Rule 15c3-1f (Appendix F to Rule 15c3-1), Optional Market and Credit Risk Requirements for OTC Derivatives Dealers

Forms and Documents

Document Name	Status
3235-0496.pdf Supplementary Document	2022-04-13
3235-0496.pdf Supplementary Document	2022-04-13
DGL REVISED 2022_15c3-1f (Appendix_F)_Supporting_Statement (1-31-22).pdf Supporting Statement A	2022-01-31
2015_15c3-1_(Appendix_F)_30_Day_Notice.doc Supplementary Document	2019-02-21
2015_15c3-1_(Appendix_F)_60_Day_Notice.doc Supplementary Document	2019-02-21

IC Document Collections

IC ID	Document Title	Status
35250	Rule 15c3-1f (Appendix F to Rule 15c3-1), Existing Dealer Maintenance	Modified
219412	Rule 15c3-1f (Appendix F to Rule 15c3-1) New Registrant Maintenance	Modified
205042	Rule 15c3-1f (Appendix F to Rule 15c3-1) New Registrant Start-up	Modified

ICR Details

OMB Control No: 3235-0496	ICR Reference No: 202201-3235-021
Status: Received in OIRA	Previous ICR Reference No: 201902-3235-029
Agency/Subagency: SEC	Agency Tracking No: TM-270-440
Title: Rule 15c3-1f (Appendix F to Rule 15c3-1), Optional Market and Credit Risk Requirements for OTC Derivatives Dealers
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: 04/13/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2022
Responses	5	7
Time Burden (Hours)	3,000	6,000
Cost Burden (Dollars)	0	0

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Abstract: Appendix F provides an alternative net capital requirement and method for determining net capital for a class of dealers active in over-the-counter markets called OTC derivatives dealers. Rule 15c3-1 is intended to ensure that broker-dealers have sufficient capital to protect the assets of customers and to meet their responsibilities to other participants in the financial markets. The rule facilitates the monitoring of the financial condition of securities broker-dealers by the Commission and the various self-regulatory organizations.

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Authorizing Statute(s): US Code: 15 USC 78c, 78d, 78i, 78j, 78l, 78m, 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:
	87 FR 6917	02/07/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 21984	04/13/2022
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Rule 15c3-1f (Appendix F to Rule 15c3-1) New Registrant Maintenance
Rule 15c3-1f (Appendix F to Rule 15c3-1) New Registrant Start-up
Rule 15c3-1f (Appendix F to Rule 15c3-1), Existing Dealer Maintenance

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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	5	7	0	0	-2	0
Annual Time Burden (Hours)	3,000	6,000	0	0	-3,000	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The estimated time burden has decreased from approximately 6,000 hours per year to approximately 3,000 hours per year because the estimated number of respondents has decreased from 6 to 3. The Commission now estimates that three OTC derivatives dealers are approved to use Appendix F and that there are no pending applications or anticipated applicants. The Commission previously estimated that a total of six OTC derivatives dealers would be approved to use Appendix F at the end of three years, consisting of three current OTC derivatives dealers, two broker-dealers with pending applications, and one anticipated applicant.

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Annual Cost to Federal Government: $0

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: 04/13/2022

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