Rule 3a71-3(d) - Conditional Exception from De Minimis Counting Requirement in Connection with Certain Transactions Arranged, Negotiated or Executed in the United States

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
3235-0771.pdf	Supplementary Document	Uploaded 2023-01-24	Repair queued
3235-0771.pdf	Supplementary Document	Uploaded 2023-01-24	Repair queued
DGL REVISED 2023 Rule 3a71-3(d) Supporting Statement.pdf	Supporting Statement A	Uploaded 2022-11-10	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
239077	Risk Management and Control Systems-- maintenance and review		Modified
239076	Risk Management and Control Systems-- maintenance and review		Modified
239075	Risk Management Control systems-- policies and procedures		Unchanged
239074	Inter-dealer Compliance Documentation-- receipt and maintenance		Unchanged
239073	Inter-dealer Compliance Documentation-- identification and conveyance		Unchanged
239072	Inter-dealer Compliance Documentation-- identification and conveyance		Unchanged
239071	Notice of ANE Activity		Unchanged
237736	Listed jurisdiction - application		Modified
237735	Consent to service - drafting/transfer		Unchanged
237734	Trading relationship documentation - receipt and maintenance		Unchanged
237733	Trading relationship documentation - identification and conveyance		Unchanged
237732	Trading relationship documentation - policies and procedures		Unchanged
237730	Trade acknowledgement - policies and procedures		Unchanged
237728	Trade acknowledgment - requirement		Unchanged
237727	Fair and balanced communications - legal costs		Modified
237726	Fair and balanced communications - statement drafting		Modified
237725	Fair and balanced communications - internal review		Unchanged
237724	Suitability - other counterparties		Unchanged
237723	Suitability - swap market counterparties		Unchanged
237722	Transaction disclosure - system development/maintenance		Unchanged
237721	Transaction disclosures - framework development		Unchanged
237720	Title VII Disclosure Policies/procedures		Modified
237719	Title VII Disclosure Requirement (Group C)		Unchanged
237718	Title VII Disclosure Requirement (Group B)		Unchanged
237717	Title VII Disclosure Requirement (Group A)		Unchanged

ICR Details

OMB Control No: 3235-0771	ICR Reference No: 202211-3235-008
Status: Historical Active	Previous ICR Reference No: 201912-3235-011
Agency/Subagency: SEC	Agency Tracking No: TM-270-817
Title: Rule 3a71-3(d) - Conditional Exception from De Minimis Counting Requirement in Connection with Certain Transactions Arranged, Negotiated or Executed in the United States
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/18/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/24/2023
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2026	36 Months From Approved	04/30/2023
Responses	273,481	0	273,481
Time Burden (Hours)	235,243	0	235,243
Cost Burden (Dollars)	1,242,595	0	1,075,834

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Abstract: The Securities and Exchange Commission adopted new paragraph (d) to Exchange Act rule 3a71-3, to provide a conditional exception from the security-based swap dealer de minimis counting requirement for certain transactions arranged, negotiated or executed by personnel in the United States.

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Authorizing Statute(s): US Code: 15 USC 78a et seq. 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 69362	11/19/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 4252	01/24/2023
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 25

table that charts list of burden

IC Title	Form No.	Form Name
Consent to service - drafting/transfer
Fair and balanced communications - internal review
Fair and balanced communications - legal costs
Fair and balanced communications - statement drafting
Inter-dealer Compliance Documentation-- identification and conveyance
Inter-dealer Compliance Documentation-- identification and conveyance
Inter-dealer Compliance Documentation-- receipt and maintenance
Listed jurisdiction - application
Notice of ANE Activity
Risk Management Control systems-- policies and procedures
Risk Management and Control Systems-- maintenance and review
Risk Management and Control Systems-- maintenance and review
Suitability - other counterparties
Suitability - swap market counterparties
Title VII Disclosure Policies/procedures
Title VII Disclosure Requirement (Group A)
Title VII Disclosure Requirement (Group B)
Title VII Disclosure Requirement (Group C)
Trade acknowledgement - policies and procedures
Trade acknowledgment - requirement
Trading relationship documentation - identification and conveyance
Trading relationship documentation - policies and procedures
Trading relationship documentation - receipt and maintenance
Transaction disclosure - system development/maintenance
Transaction disclosures - framework development

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ICR Summary of Burden

table that charts list of burden

	Total Approved	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	273,481	273,481	0	0	0	0
Annual Time Burden (Hours)	235,243	235,243	0	0	0	0
Annual Cost Burden (Dollars)	1,242,595	1,075,834	0	0	166,761	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:

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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: 01/24/2023

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