Rule 17a-12; Reporting Requirements for OTC Derivatives Dealers.

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC 2430 Form X-17A-5	Form and Instruction	Removed	Repair queued
Form SEC 2430 Rule 17a-12; Reporting Requirements for OTC Derivatives Dealers.	Form and Instruction	Removed	Repair queued
Form X-17A-5 Part II X-17A-5 Part II	Form	New	Available
Form X-17A-5 Part II 2023 proposal to require FOCUS Report to be filed on SEC eFOCUS	Form	New	Repair queued
Form X-17a-5 Part III X-17a-5 Part III	Form	New	Available
Form X-17a-5 Part III 2023 proposed amendments to FOCUS Report signature requirement	Form	New	Repair queued
Form X-17A-5 Part II X-17A-5 Part II	Form	New	Available
Form X-17A-5 Part II 2023 proposed corrective and clarifying amendments to FOCUS Report Part II	Form	New	Repair queued
Form X-17A-5 Part II X-17A-5 Part II	Form	New	Repair queued
Form X-17A-5 Part II Form X-17A-5 Part II	Form	New	Repair queued
Form X-17A-5 Part III X-17A-5 Part III	Form	New	Available
Form X-17A-5 Part III 2023 proposal to require filing annual audit in Inline XBRL - Ongoing burden	Form	New	Repair queued
Form X-17A-5 Part III X-17A-5 Part III	Form	New	Available
Form X-17A-5 Part III 2023 proposal to require filing annual audit in Inline XBRL - Initial burden	Form	New	Repair queued
Form X-17A-5 Part III X-17A-5 Part III	Form	New	Repair queued
Form X-17A-5 Part III Annual audited report	Form	New	Repair queued
Rule 17a-12 Supporting Statement (Proposed Rule).pdf	Supporting Statement A	Uploaded 2023-04-18	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
35256	Rule 17a-12; Reporting Requirements for OTC Derivatives Dealers.	Form and Instruction	Removed	Form X-17A-5
35256	Rule 17a-12; Reporting Requirements for OTC Derivatives Dealers.	Form and Instruction	Removed
258559	2023 proposal to require FOCUS Report to be filed on SEC eFOCUS	Form	New	X-17A-5 Part II
258559	2023 proposal to require FOCUS Report to be filed on SEC eFOCUS	Form	New
258558	2023 proposed amendments to FOCUS Report signature requirement	Form	New	X-17a-5 Part III
258558	2023 proposed amendments to FOCUS Report signature requirement	Form	New
258557	2023 proposed corrective and clarifying amendments to FOCUS Report Part II	Form	New	X-17A-5 Part II
258557	2023 proposed corrective and clarifying amendments to FOCUS Report Part II	Form	New
258556	Form X-17A-5 Part II	Form	New	X-17A-5 Part II
258556	Form X-17A-5 Part II	Form	New
258555	2023 proposal to require filing annual audit in Inline XBRL - Ongoing burden	Form	New	X-17A-5 Part III
258555	2023 proposal to require filing annual audit in Inline XBRL - Ongoing burden	Form	New
258554	2023 proposal to require filing annual audit in Inline XBRL - Initial burden	Form	New	X-17A-5 Part III
258554	2023 proposal to require filing annual audit in Inline XBRL - Initial burden	Form	New
258430	Annual audited report	Form	New	X-17A-5 Part III
258430	Annual audited report	Form	New
204890	Rule 17a-12 Professional Accountant Review Requirements		Removed

ICR Details

OMB Control No: 3235-0498	ICR Reference No: 202302-3235-005
Status: Historical Inactive	Previous ICR Reference No: 202110-3235-010
Agency/Subagency: SEC	Agency Tracking No: TM-270-442
Title: Rule 17a-12; Reporting Requirements for OTC Derivatives Dealers.
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 06/22/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/19/2023
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2025	02/28/2025	02/28/2025
Responses	4	0	4
Time Burden (Hours)	360	0	360
Cost Burden (Dollars)	92,600	0	92,600

---

Abstract: Rule 17a-12 and Form X-17A-5 Part II establish the basic periodic reporting structure for OTC (over-the-counter) derivatives dealers. Rule 17a-12 requires OTC derivatives dealers registered with the Commission to file quarterly Financial and Operational Combined Uniform Single Reports on Part II of Form X-17A-5 and annual audit reports with the Commission. The quarterly filings must include credit and market risk information, which enables the Commission to ascertain the nature and scope of a firm’s OTC derivatives activity and to monitor the firm’s risk exposure. Rule 17a-12 also requires that OTC derivatives dealers annually file audited financial statements and supplemental reports by the auditor, including an accountant’s report on material inadequacies and reportable conditions, an accountant’s report on management controls, and an accountant’s report on inventory pricing and modeling.

---

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

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL85	Proposed rulemaking	88 FR 23920	04/18/2023

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 7

table that charts list of burden

IC Title	Form No.	Form Name
2023 proposal to require FOCUS Report to be filed on SEC eFOCUS	X-17A-5 Part II	X-17A-5 Part II
2023 proposal to require filing annual audit in Inline XBRL - Initial burden	X-17A-5 Part III	X-17A-5 Part III
2023 proposal to require filing annual audit in Inline XBRL - Ongoing burden	X-17A-5 Part III	X-17A-5 Part III
2023 proposed amendments to FOCUS Report signature requirement	X-17a-5 Part III	X-17a-5 Part III
2023 proposed corrective and clarifying amendments to FOCUS Report Part II	X-17A-5 Part II	X-17A-5 Part II
Annual audited report	X-17A-5 Part III	X-17A-5 Part III
Form X-17A-5 Part II	X-17A-5 Part II	X-17A-5 Part II
Rule 17a-12 Professional Accountant Review Requirements
Rule 17a-12; Reporting Requirements for OTC Derivatives Dealers.	SEC 2430	Form X-17A-5

---

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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The Commission has proposed amendments to Rule 17a-12 that would result in new hour and cost burdens. These are discussed in more detail in the attached Supporting Statement.

---

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

---

Common Form ICR:  No

---

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: 04/19/2023

---