Rule 18a-7 – Reports to be Made by Certain Security-Based Swap Dealers and Major Security-Based Swap Participants

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form X-17A-5 Annual Reports	Form and Instruction	Modified	Available
Form X-17A-5 FOCUS Report Part IIC for Bank SBSDs	Form and Instruction	Modified	Repair queued
Form X-17A-5 Annual Reports	Form and Instruction	Removed	Available
Form X-17A-5 FOCUS Report Part II for Stand-Alone MSBSPs	Form and Instruction	Removed	Repair queued
Form X-17A-5 Annual Reports	Form and Instruction	Modified	Available
Form X-17A-5 FOCUS Report Part II for Stand-Alone SBSDs	Form and Instruction	Modified	Repair queued
3235-0749 Supporting Statement (Rule 18a-7 Proposed Revision).pdf	Supporting Statement A	Uploaded 2023-04-18	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
258490	2023 Proposed Amendments to FOCUS Report Signature Requirement		New
258489	2023 Proposed Corrective and Clarifying Amendments to FOCUS Report Part II		New
258488	2023 Proposal to Require Filing Annual Audit in Inline XBRL - Ongoing Burden		New
258487	2023 Proposal to Require Filing Annual Audit in Inline XBRL - Initial Burden		New
223468	Engagement of Accountant for Stand-Alone SBSDs		Modified
223466	Engagement of Accountant for Stand-Alone MSBSPs		Removed
223465	FOCUS Report Part IIC for Bank SBSDs	Form and Instruction	Modified	Annual Reports
223465	FOCUS Report Part IIC for Bank SBSDs	Form and Instruction	Modified
223464	FOCUS Report Part II for Stand-Alone MSBSPs	Form and Instruction	Removed	Annual Reports
223464	FOCUS Report Part II for Stand-Alone MSBSPs	Form and Instruction	Removed
223463	FOCUS Report Part II for Stand-Alone SBSDs	Form and Instruction	Modified	Annual Reports
223463	FOCUS Report Part II for Stand-Alone SBSDs	Form and Instruction	Modified
223462	Notice of Change in Fiscal Year		Unchanged
223461	Statement Regarding Independent Public Accountant		Modified
223460	Annual Reports for Stand-Alone SBSDs Exempt from Rule 18a-4		Modified
223459	Annual Reports for Stand-Alone MSBSPs		Removed
223457	Customer Statements		Modified
223455	Reports for Model Stand-Alone SBSDs		Removed

ICR Details

OMB Control No: 3235-0749	ICR Reference No: 202302-3235-007
Status: Historical Inactive	Previous ICR Reference No: 202104-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM-270-669
Title: Rule 18a-7 – Reports to be Made by Certain Security-Based Swap Dealers and Major Security-Based Swap Participants
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	07/31/2024	07/31/2024	07/31/2024
Responses	265	0	265
Time Burden (Hours)	3,136	0	3,136
Cost Burden (Dollars)	3,018,082	0	3,018,082

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Abstract: Exchange Act Rule 18a-7 establishes reporting requirements applicable to stand-alone SBSDs, stand-alone MSBSPs, bank SBSDs, and bank MSBSPs. Rule 18a-7 is modeled on Exchange Act Rule 17a-5, which applies to broker-dealers, but Rule 18a-7 does not include a parallel requirement for every requirement in Rule 17a-5 because some of the requirements in Rule 17a-5 relate to activities that are not expected or permitted of SBSDs and MSBSPs.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
   US Code: 15 USC 78o-10 Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

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

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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: 11

table that charts list of burden

IC Title	Form No.	Form Name
2023 Proposal to Require Filing Annual Audit in Inline XBRL - Initial Burden
2023 Proposal to Require Filing Annual Audit in Inline XBRL - Ongoing Burden
2023 Proposed Amendments to FOCUS Report Signature Requirement
2023 Proposed Corrective and Clarifying Amendments to FOCUS Report Part II
Annual Reports for Stand-Alone MSBSPs
Annual Reports for Stand-Alone SBSDs Exempt from Rule 18a-4
Customer Statements
Engagement of Accountant for Stand-Alone MSBSPs
Engagement of Accountant for Stand-Alone SBSDs
FOCUS Report Part II for Stand-Alone MSBSPs	X-17A-5	Annual Reports
FOCUS Report Part II for Stand-Alone SBSDs	X-17A-5	Annual Reports
FOCUS Report Part IIC for Bank SBSDs	X-17A-5	Annual Reports
Notice of Change in Fiscal Year
Reports for Model Stand-Alone SBSDs
Statement Regarding Independent Public Accountant

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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 18a-7 that would revise the burdens estimates for the existing collections of information and add new ones. These are described 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: 04/19/2023

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