Rules 15Fi-3 through 15Fi-5 – Risk Mitigation Techniques for Uncleared Security-Based Swaps

Forms and Documents

Document Name	Status
3235-0777 Supporting Statement (Final Rules 15Fi-1, 15Fi-2, and 15Fi-3).pdf Supporting Statement A	2021-08-17

IC Document Collections

IC ID	Document Title	Status
239610	Audit of Documentation	Unchanged
239609	Documentation Policies and Procedures (SEC Only) (Initial Burden)	Modified
239608	Documentation Policies and Procedures (SEC Only) (Ongoing Burden)	Modified
239607	Documentation Policies and Procedures (Dual SEC/CFTC) (Initial Burden)	Modified
239606	Documentation Policies and Procedures Dual SEC/CFTC) (Ongoing Burden)	Modified
239605	Prepare and Negotiate Documentation	Unchanged
239604	Compression Policies and Procedures (SEC Only) (Initial Burden)	Modified
239603	Compression Policies and Procedures (SEC Only) (Ongoing Burden)	Modified
239500	Compression Policies and Procedures (Dual SEC/CFTC) (Initial Burden)	Modified
239498	Compression Policies and Procedures (Dual SEC/CFTC) (Ongoing Burden)	Modified
239497	Compression and Offsets with All Counterparties	Unchanged
239496	Valuation Dispute Notices	Unchanged
239495	Reconciliation Policies and Procedures (SEC Only) (Initial Burden)	Modified
239494	Reconciliation Policies and Procedures (SEC Only) (Ongoing Burden)	Modified
239493	Reconciliation Policies and Procedures (Dual SEC/CFTC) (Initial Burden)	Modified
239491	Reconciliation Policies and Procedures (Dual SEC/CFTC) (Ongoing Burden)	Modified
239490	Reconciliation with non-SBS Entities	Unchanged
239489	Reconciliation with other SBS Entities	Unchanged

ICR Details

OMB Control No: 3235-0777	ICR Reference No: 202108-3235-011
Status: Received in OIRA	Previous ICR Reference No: 202001-3235-022
Agency/Subagency: SEC	Agency Tracking No: TM-270-822
Title: Rules 15Fi-3 through 15Fi-5 – Risk Mitigation Techniques for Uncleared Security-Based Swaps
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 08/18/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	128,590	0
Time Burden (Hours)	440,382	0
Cost Burden (Dollars)	0	0

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Abstract: The SEC has adopted rules prescribing standards for security-based swap dealers and major security-based swap participants related to the timely and accurate confirmation, processing, netting, documentation, and valuation of all security-based swaps.

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Authorizing Statute(s): US Code: 15 USC 78o-10(i) Name of Law: Securities Exchange Act of 1934 (section 15F(i)(2))
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL83	Final or interim final rulemaking	85 FR 6359	02/04/2020

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 18

IC Title	Form No.	Form Name
Audit of Documentation
Compression Policies and Procedures (Dual SEC/CFTC) (Initial Burden)
Compression Policies and Procedures (Dual SEC/CFTC) (Ongoing Burden)
Compression Policies and Procedures (SEC Only) (Initial Burden)
Compression Policies and Procedures (SEC Only) (Ongoing Burden)
Compression and Offsets with All Counterparties
Documentation Policies and Procedures (Dual SEC/CFTC) (Initial Burden)
Documentation Policies and Procedures (SEC Only) (Initial Burden)
Documentation Policies and Procedures (SEC Only) (Ongoing Burden)
Documentation Policies and Procedures Dual SEC/CFTC) (Ongoing Burden)
Prepare and Negotiate Documentation
Reconciliation Policies and Procedures (Dual SEC/CFTC) (Initial Burden)
Reconciliation Policies and Procedures (Dual SEC/CFTC) (Ongoing Burden)
Reconciliation Policies and Procedures (SEC Only) (Initial Burden)
Reconciliation Policies and Procedures (SEC Only) (Ongoing Burden)
Reconciliation with non-SBS Entities
Reconciliation with other SBS Entities
Valuation Dispute Notices

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	128,590	0	0	128,590	0	0
Annual Time Burden (Hours)	440,382	0	0	440,382	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated burdens in the final rule are largely the same as those that were previously proposed and reviewed. There is a small change due to the fact that some respondents have been shifted from a dual-registration to a single-registrant category. This is explained in more detail in Item 15 of the Supporting Statement.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 08/18/2021

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