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 2023 Proposed Partial Revision.pdf	Supporting Statement A	Uploaded 2023-05-02	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
260009	Withdrawal of notice of ANE activity		New
239077	Risk Management and Control Systems-- maintenance and review		Unchanged
239076	Risk Management and Control Systems-- maintenance and review		Unchanged
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		Modified
237736	Listed jurisdiction - application		Unchanged
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		Unchanged
237726	Fair and balanced communications - statement drafting		Unchanged
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		Unchanged
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: 202305-3235-001
Status: Historical Inactive	Previous ICR Reference No: 202211-3235-008
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: 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: 07/05/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/06/2023
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	04/30/2026	04/30/2026	04/30/2026
Responses	273,481	0	273,481
Time Burden (Hours)	235,243	0	235,243
Cost Burden (Dollars)	1,242,595	0	1,242,595

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Abstract: Exchange Act rule 3a71-3(d) provides 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. The Commission proposes to require Rule 3a71-3(d)(1)(vi) notices (and any withdrawals of the notices) to the Commission currently filed via email to be filed electronically on the Commission’s Electronic Data Gathering, Analysis, and Retrieval system; the Commission also proposes to require withdrawal of the notices in specified circumstances.

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Authorizing Statute(s): US Code: 15 USC 78a et seq. Name of Law: Securities Exchange Act of 1934
   Statute at Large: 124 Stat. 136 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-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: 26

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
Withdrawal of notice of ANE activity

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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: No

Burden Reduction Due to:

Short Statement: The Commission recently proposed an amendment to this rule that would add a new one-time hour burden. This is 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: 05/06/2023

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