Rule 18a-1, Net Capital Requirements For Security-Based Swap Dealers For Which There Is Not a Prudential Regulator

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
20250919_3235-0701_2025-18117_90 FR 45273_30-Day Submission Notice.pdf.pdf	Supplementary Document	Uploaded 2025-09-19	Available
20250919_3235-0701_2025-18117_90 FR 45273_30-Day Submission Notice.pdf.pdf	Supplementary Document	Uploaded 2025-09-19	Repair queued
3235-0701 Supporting Statement (2025 Extension).pdf	Supporting Statement A	Uploaded 2025-09-15	Available
3235-0701 Supporting Statement (2025 Extension).pdf	Supporting Statement A	Uploaded 2025-09-15	Repair queued
20250715_3235-0701_2025-13254_90 FR 31716_60-Day Collection Notice.pdf	Supplementary Document	Uploaded 2025-07-15	Available
20250715_3235-0701_2025-13254_90 FR 31716_60-Day Collection Notice.pdf	Supplementary Document	Uploaded 2025-07-15	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
275440	Rule 18a-1(d) (VaR Models – IT) - Initial Burden		New
275439	Rule 18a-1(c) Account Control Agreement Legal Analysis (outside counsel) - Initial Burden		New
275438	Rule 18a-1(c) Account Control Agreement Legal Analysis (In-house counsel) - Initial Burden		New
275437	Rule 18a-1(c) - Account Control Agreements Opinion of Counsel - Initial Burden		New
275436	Rule 18a-1 - Subordinated Loan Agreements - Initial Burden		New
275435	Rule 18a-1(f) - Risk Management Control System - Initial Burden		New
275434	Rule 18a-1 - VaR Models - Initial Burden		New
236969	Rule 18a-1(c) - Account Control Agreements Opinion of Counsel-- Ongoing Burden		Modified
236968	Rule 18a-1 - Subordinated Loan Agreements-- Ongoing Burden		Modified
206757	Rule 18a-1(h) Commission Notices		Modified
206756	18a-1(c) Industry Sector Classification		Modified
206755	18a-1(f) Risk Management Control System-- Ongoing Burden		Modified
206751	Rule 18a-1(a) VaR Models - Ongoing Burden		Modified

ICR Details

OMB Control No: 3235-0701	ICR Reference No: 202505-3235-018
Status: Active	Previous ICR Reference No: 202205-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM
Title: Rule 18a-1, Net Capital Requirements For Security-Based Swap Dealers For Which There Is Not a Prudential Regulator
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/16/2026
Retrieve Notice of Action (NOA)	Date Received in OIRA: 09/19/2025
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2029	36 Months From Approved	01/31/2026
Responses	1,286	0	520
Time Burden (Hours)	33,243	0	21,024
Cost Burden (Dollars)	6,504,934	0	2,598,500

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Abstract: Rule 18a-1, 17 CFR 240.18a-1, provides the net capital standards and requirements for nonbank firms that are not subject to SEC Rule 15c3-1 and that are required to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 as security-based swap dealers (SBSDs). The rule includes information collections that are designed to ensure that these SBSDs maintain sufficient liquidity at all times to meet all unsubordinated obligations of their customers and counterparties and, should an SBSD fail, that there are sufficient resources for an orderly liquidation. The information collection requirements include reporting, recordkeeping, and third-party disclosure requirements that facilitate the SEC's monitoring of the financial condition of these SBSDs.

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

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 763-764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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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 31716	07/15/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 45273	09/19/2025
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 13

table that charts list of burden

IC Title	Form No.	Form Name
18a-1(c) Industry Sector Classification
18a-1(f) Risk Management Control System-- Ongoing Burden
Rule 18a-1 - Subordinated Loan Agreements - Initial Burden
Rule 18a-1 - Subordinated Loan Agreements-- Ongoing Burden
Rule 18a-1 - VaR Models - Initial Burden
Rule 18a-1(a) VaR Models - Ongoing Burden
Rule 18a-1(c) - Account Control Agreements Opinion of Counsel - Initial Burden
Rule 18a-1(c) - Account Control Agreements Opinion of Counsel-- Ongoing Burden
Rule 18a-1(c) Account Control Agreement Legal Analysis (In-house counsel) - Initial Burden
Rule 18a-1(c) Account Control Agreement Legal Analysis (outside counsel) - Initial Burden
Rule 18a-1(d) (VaR Models – IT) - Initial Burden
Rule 18a-1(f) - Risk Management Control System - Initial Burden
Rule 18a-1(h) Commission Notices

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ICR Summary of Burden

table that charts list of burden

	Total Approved	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	1,286	520	0	766	0	0
Annual Time Burden (Hours)	33,243	21,024	0	12,219	0	0
Annual Cost Burden (Dollars)	6,504,934	2,598,500	0	3,906,434	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burdens can be attributed to an increase in respondents since the last submission, as well as an increase in the estimated cost of an outside consultant. The burdens 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: 09/19/2025

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