Municipal Securities Disclosure (17 CFR 240.15c2-12)

Forms and Documents

Document Name	Status
3235-0372 30 Day Notice.pdf Supplementary Document	2021-11-29
3235-0372 60 Day Notice.pdf Supplementary Document	2021-11-29
2021 PRA Supporting Statement 09232021.docx Supporting Statement A	2021-11-29

IC Document Collections

IC ID	Document Title	Status
34930	Issuers Annual Filing Third-Party Disclosure	Modified
226209	Broker Dealers third party disclosure one-time burden	Unchanged
226208	Municipal Securities Rulemaking Board Recordkeeping one-time burden	Unchanged
226206	One-time cost for Issuers to revise continuing disclosure agreement	Unchanged
215170	Issuers that use the services of a designated agent	Modified
215169	Broker Dealers Third Party Disclosure	Modified
215167	Issuers (failure to file notices) Third Party Disclosure	Modified
215165	Issuers (event notices) Third Party Dislosure	Modified
199950	Municipal Securities Rulemaking Board Recordkeeping	Modified

ICR Details

OMB Control No: 3235-0372	ICR Reference No: 202110-3235-016
Status: Received in OIRA	Previous ICR Reference No: 201806-3235-007
Agency/Subagency: SEC	Agency Tracking No: OMS-270-330
Title: Municipal Securities Disclosure (17 CFR 240.15c2-12)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/29/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	11/30/2021
Responses	294,679	205,449
Time Burden (Hours)	800,631	903,805
Cost Burden (Dollars)	22,844,998	19,549,000

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Abstract: Rule 15c2-12 is intended to enhance disclosure, and thereby reduce fraud, in the municipal securities market by establishing standards for obtaining, reviewing, and disseminating information about municipal securities by their underwriters.

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Authorizing Statute(s): US Code: 15 USC 78o(c) Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 41528	08/02/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 58367	10/21/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Broker Dealers Third Party Disclosure
Broker Dealers third party disclosure one-time burden
Issuers (event notices) Third Party Dislosure
Issuers (failure to file notices) Third Party Disclosure
Issuers Annual Filing Third-Party Disclosure
Issuers that use the services of a designated agent
Municipal Securities Rulemaking Board Recordkeeping
Municipal Securities Rulemaking Board Recordkeeping one-time burden
One-time cost for Issuers to revise continuing disclosure agreement

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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	294,679	205,449	0	-26,855	116,085	0
Annual Time Burden (Hours)	800,631	903,805	0	-753,406	650,232	0
Annual Cost Burden (Dollars)	22,844,998	19,549,000	0	1,535,998	1,760,000	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The burden changes are reflects the estimates of respondent reporting burden and total annualized cost burden, including one-time burdens and costs.

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Annual Cost to Federal Government: $6,900

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.     No

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]? No

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: 11/29/2021

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