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

Forms and Documents

Forms and supporting documents for this ICR

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	Unchanged	Repair queued
Form 1 Rules modelled on CFTC Part 37 (other than registration); Form SBSEF--continuing compliance	Form and Instruction	Unchanged	Repair queued
Form 1 Registration (Rule 803, Form SBSEF)	Form and Instruction	Unchanged	Repair queued
3235-0793 OMB Supporting Statement for Reg SE (Final Rule).pdf	Supporting Statement A	Uploaded 2023-12-19	Available

IC Document Collections

Information collection document groups

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

ICR Details

OMB Control No: 3235-0793	ICR Reference No: 202311-3235-025
Status: Received in OIRA	Previous ICR Reference No: 202205-3235-030
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: 12/19/2023

table that charts list comparision

	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”) has adopted a set of rules (“Regulation SE”) and forms under Section 3D of the Securities Exchange Act of 1934 (“SEA”) that creates 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. Key rules within Regulation SE include Rule 803, which establishes a process for SBSEF registration; Rules 804 to 810, which establish procedures for rule and product filings by SBSEFs; Rules 818 to 831, which implement the 14 Core Principles for SBSEFs set forth in Section 3D(d) of the SEA; Rules 832 to 833, which address cross-border matters relating to SBS execution; and Rule 834, which impose requirements addressing conflicts of interest involving SBSEFs and SBS exchanges, as required by Section 765 of the Dodd-Frank Act. In addition to the rules described above, the Commission is also adopting Form SBSEF, which is the form that an entity will use to register with the Commission as an SBSEF; adopting a submission cover sheet, which will be required to accompany filings with the Commission made by SBSEFs for rule and rule amendments and for product listings; adopting amendments to existing Rule 3a1-1 under the SEA to exempt from the SEA definition of “exchange” registered SBSEFs that provide a market place for no securities other than SBS and certain registered clearing agencies; adopting new Rule 15a-12 under the SEA that, while affirming that an SBSEF also would be a broker under the SEA, would exempt a registered SBSEF from certain broker requirements; providing for the sunsetting of an existing exemption from the requirement to register as a clearing agency for entities performing the functions of an SBSEF but that are not yet registered as such; and adopting new rules and amendments to the Commission’s Rules of Practice, to allow persons who are aggrieved by certain determinations by an SBSEF to apply for review by the Commission and to delegate certain regulatory tasks to various persons and offices within the Commission.

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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	Final or interim final rulemaking	88 FR 87156	12/15/2023

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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: 12

table that charts list of burden

IC Title	Form No.	Form Name
Registration (Rule 803, Form SBSEF)	1	Form SBSEF
Rule 809
Rule 811(d)
Rule 819(i)
Rule 819(j)
Rule 826(f)
Rule 833
Rule 834(b)(c)
Rule 834(d)-(g)
Rule 835
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

table that charts list 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 adopted rules that would add new collections of information with hour burdens. They 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: 12/19/2023

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