Rule 18a-3, Security-Based Swap Margin Requirements for Non-Prudentially Regulated Entities

Forms and Documents

Document Name	Status
20250728_3235-0208_2025-14205_90 FR 35563_60-Day Collection Notice.pdf Supplementary Document	2025-07-29
2025 05 14_90 FR 20538_3235-0702_60-Day Collection Notice.pdf Supplementary Document	2025-05-14
2025 18a-3 Supporting Statement.pdf Supporting Statement A	2025-05-06

IC Document Collections

IC ID	Document Title	Status
236982	Rule 18a-10 - Notices	Removed
236981	Rule 18a-10(b)(2) (Update Disclosures)	Removed
236980	Rule 18a-10 - Incorporate Disclosure Language (Initial, One-Time Burden)	Removed
236979	Rule 18a-10 - Develop Disclosure Language (Initial, One-Time Burden)	Removed
236978	Rule 18a-3(d) - Initial Margin Model	Modified
206775	Rule 18a-3 - Cost Burden (Initial, One-Time)	Modified
206774	Rule 18a-3(e) – Counterparty Risk Monitoring Procedures	Modified

ICR Details

OMB Control No: 3235-0702	ICR Reference No: 202505-3235-002
Status: Received in OIRA	Previous ICR Reference No: 202204-3235-008
Agency/Subagency: SEC	Agency Tracking No: TM
Title: Rule 18a-3, Security-Based Swap Margin Requirements for Non-Prudentially Regulated Entities
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/29/2025

	Requested	Previously Approved
Expiration Date	36 Months From Approved	10/31/2025
Responses	15	21
Time Burden (Hours)	1,030	2,243
Cost Burden (Dollars)	0	3,333

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Abstract: Rule 18a-3, 17 CFR 240.18a-3, establishes minimum margin requirements for nonbank security-based swap dealers (“SBSDs”) and nonbank major security-based swap participants (“MSBSPs”) for non-cleared security-based swaps. Under Rule 18a-3(e), nonbank SBSDs are required to monitor the risk of each account that holds non-cleared security based swaps for a counterparty and to establish, maintain, and document procedures and guidelines for monitoring the risk of accounts as part of its risk management control system required under Exchange Act Rule 15c3-4. In addition, Rule 18a-3(d)(2) provides that a nonbank SBSD seeking approval to use a model to calculate initial margin will be subject to an application process consistent with Exchange Act Rule 15c3-1e and Exchange Act Rule 18a-1(d), as applicable, governing the use of internal models to compute net capital. The information collections in Rule 18a-3 are recordkeeping requirements and are designed to facilitate the collection of adequate levels of margin assets by nonbank SBSDs to protect them against counterparty default on both current and potential future exposures.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 763 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
   PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
   US Code: 15 USC 78a et seq. Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 763 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 20538	05/14/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 35744	07/29/2025
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Rule 18a-10 - Develop Disclosure Language (Initial, One-Time Burden)
Rule 18a-10 - Incorporate Disclosure Language (Initial, One-Time Burden)
Rule 18a-10 - Notices
Rule 18a-10(b)(2) (Update Disclosures)
Rule 18a-3 - Cost Burden (Initial, One-Time)
Rule 18a-3(d) - Initial Margin Model
Rule 18a-3(e) – Counterparty Risk Monitoring Procedures

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ICR Summary 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	15	21	0	0	-6	0
Annual Time Burden (Hours)	1,030	2,243	0	0	-1,213	0
Annual Cost Burden (Dollars)	0	3,333	0	0	-3,333	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: The changes in burden result from an increase in the estimated number of respondents from 7 to 13, as well as from a reduction in the estimated initial one-time burdens.

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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]? 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: 07/29/2025

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