Rules Relating to Security-Based Swap Execution and Registration and Regulation of Security-Based Swap Execution Facilities

Forms and Documents

Document	Type	Status	Availability
Form 1 Rule and product filing processes including cover sheet (Rules 804-807) modelled on CFTC Part 40	Form and Instruction	New	Repair queued
Form 1 Rules modelled on CFTC Part 37 (other than registration); Form SBSEF--continuing compliance	Form and Instruction	New	Repair queued
Form 1 Registration (Rule 803, Form SBSEF)	Form and Instruction	New	Repair queued
Supporting Statement for Reg SE (New Request-- Proposed Rule).pdf	Supporting Statement A	Uploaded 2022-05-27	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
253884	Proposed Rule 835		New
253883	Proposed Rule 834(d)-(g)		New
253882	Proposed Rule 834(b)(c)		New
253881	Proposed Rule 833		New
253880	Proposed Rule 826(f)		New
253879	Proposed Rule 819(j)		New
253878	Proposed Rule 819(i)		New
253876	Proposed Rule 811(d)		New
253875	Proposed Rule 809		New
253874	Rule and product filing processes including cover sheet (Rules 804-807) modelled on CFTC Part 40	Form and Instruction	New
253873	Rules modelled on CFTC Part 37 (other than registration); Form SBSEF--continuing compliance	Form and Instruction	New
253739	Registration (Rule 803, Form SBSEF)	Form and Instruction	New

ICR Details

OMB Control No:	ICR Reference No: 202205-3235-030
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No:
Title: Rules Relating to Security-Based Swap Execution and Registration and Regulation of Security-Based Swap Execution Facilities
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: 05/27/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	123	0
Time Burden (Hours)	3,431	0
Cost Burden (Dollars)	0	0

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Abstract: The Securities and Exchange Commission (“Commission”) is proposing a set of rules (“Regulation SE”) and forms under the Securities Exchange Act of 1934 (“SEA”) that would create a regime for the registration and regulation of security-based swap execution facilities (“SBSEFs”) and address other issues relating to security-based swap (“SBS”) execution generally. One of the rules being proposed as part of Regulation SE would implement part of the Dodd-Frank Act, which is intended to mitigate conflicts of interest at SBSEFs and national securities exchanges that trade SBS. Other rules being proposed as part of Regulation SE would address the cross-border application of the SEA’s trading venue registration requirements and the trade execution requirement for SBS. In addition, the Commission is proposing to amend an existing rule to exempt, from the SEA definition of “exchange,” certain registered clearing agencies as well as registered SBSEFs that provide a market place only for SBS. The Commission also is proposing a new rule that, while affirming that an SBSEF would be a broker under the SEA, would exempt a registered SBSEF from certain broker requirements.

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Authorizing Statute(s): US Code: 15 USC 78c, 78c-3, 78c-4, 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 8343 Name of Law: Dodd-Frank Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK93	Proposed rulemaking	87 FR 28872	05/11/2022

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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
Proposed Rule 809
Proposed Rule 811(d)
Proposed Rule 819(i)
Proposed Rule 819(j)
Proposed Rule 826(f)
Proposed Rule 833
Proposed Rule 834(b)(c)
Proposed Rule 834(d)-(g)
Proposed Rule 835
Registration (Rule 803, Form SBSEF)	1	Form SBSEF
Rule and product filing processes including cover sheet (Rules 804-807) modelled on CFTC Part 40	1	Submission Cover Sheet, for Rule and Product Submissions
Rules modelled on CFTC Part 37 (other than registration); Form SBSEF--continuing compliance	1	Form SBSEF

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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	123	0	0	123	0	0
Annual Time Burden (Hours)	3,431	0	0	3,431	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 Commission has proposed rules that, if adopted, would result in new information collections and burden requirements. These are discussed in more detail in the attached 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.     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: 05/27/2022

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