Reporting of Securities Loans

Forms and Documents

Document	Type	Status	Availability
Supporting Statement for New ICR (Proposed Rule 10c-1).pdf	Supporting Statement A	Uploaded 2022-03-21	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
252286	RNSA Retention of Collected Information		New
252285	RNSA Collection of Information from Lenders and Providing Information to the Public and the Commission: Implement and maintain infrastructure for Lenders to report information to the RNSA		New
252284	Lenders Directly Employing a Reporting Agent: Entering into a Written Agreement with a Reporting Agent		New
252283	Lenders Directly Employing a Reporting Agent: Systems Development and Monitoring		New
252282	Lenders not Employing a Lending Agent – Self-Providing Lenders: Systems Development and Monitoring		New
252281	Reporting Agents: Preserve 10c-1 Information at Least 3 Years		New
252280	Reporting Agents: Entering into Written Agreement with RNSA		New
252278	Reporting Agents: Entering into Written Agreements with Persons who Provide 10c-1 Information		New
252277	Reporting Agents: Systems Development and Monitoring		New
252276	Non-providing Lending Agents: Entering into Written Agreement with Reporting Agent		New
252275	Non-providing Lending Agents: Systems Development and Monitoring		New
252274	Providing Lending Agents: Systems Development and Monitoring		New

ICR Details

OMB Control No:	ICR Reference No: 202203-3235-012
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No:
Title: Reporting of Securities Loans
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: 03/22/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	866	0
Time Burden (Hours)	841,397	0
Cost Burden (Dollars)	0	0

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Abstract: The Securities and Exchange Commission is proposing a rule to increase the transparency and efficiency of the securities lending market by requiring any person that loans a security on behalf of itself or another person to report the material terms of those securities lending transactions, and related information regarding the securities the person has on loan and available to loan, to a registered national securities association ("RNSA"). The proposed rule would also require that the RNSA make available to the public certain information concerning each transaction and aggregate information on securities on loan and available to loan.

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Authorizing Statute(s): US Code: 15 USC 78j(b) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78c Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-3 Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q-a Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78w(a) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78j(c) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o(c) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o(g) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78k-1 Name of Law: Securities Exchange Act of 1934
   PL: Pub.L. 111 - 203 984 Name of Law: Dodd Frank Wall Street Reform and Consumer Protection Act
   Statute at Large: 124 Stat. 1376 Name of Statute: Dodd Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AN01	Proposed rulemaking	86 FR 69802	12/08/2021

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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: 12

IC Title	Form No.	Form Name
Lenders Directly Employing a Reporting Agent: Entering into a Written Agreement with a Reporting Agent
Lenders Directly Employing a Reporting Agent: Systems Development and Monitoring
Lenders not Employing a Lending Agent – Self-Providing Lenders: Systems Development and Monitoring
Non-providing Lending Agents: Entering into Written Agreement with Reporting Agent
Non-providing Lending Agents: Systems Development and Monitoring
Providing Lending Agents: Systems Development and Monitoring
RNSA Collection of Information from Lenders and Providing Information to the Public and the Commission: Implement and maintain infrastructure for Lenders to report information to the RNSA
RNSA Retention of Collected Information
Reporting Agents: Entering into Written Agreement with RNSA
Reporting Agents: Entering into Written Agreements with Persons who Provide 10c-1 Information
Reporting Agents: Preserve 10c-1 Information at Least 3 Years
Reporting Agents: Systems Development and Monitoring

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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	866	0	0	866	0	0
Annual Time Burden (Hours)	841,397	0	0	841,397	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 burden increase because the proposed rule would impose new collection of information requirements.

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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.     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]? 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: 03/22/2022

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