Submission for OMB Review; Comment Request

Published date19 November 2019
Citation84 FR 63926
Record Number2019-25001
SectionNotices
CourtSecurities And Exchange Commission
Federal Register, Volume 84 Issue 223 (Tuesday, November 19, 2019)
[Federal Register Volume 84, Number 223 (Tuesday, November 19, 2019)]
                [Notices]
                [Pages 63926-63927]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2019-25001]
                -----------------------------------------------------------------------
                SECURITIES AND EXCHANGE COMMISSION
                Submission for OMB Review; Comment Request
                Upon Written Request, Copies Available From: Securities and Exchange
                Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
                20549-2736
                Extension:
                 Rules 901, 902, 903(a), 904, 905, 906, 907, and 908 of
                Regulation SBSR, SEC File No. 270-629 OMB Control No. 3235-0718.
                 Notice is hereby given that pursuant to the Paperwork Reduction Act
                of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange
                Commission (``Commission'') has submitted to the Office of Management
                and Budget (``OMB'') a request for approval of extension of the
                previously approved collection of information provided for in Rules
                901, 902, 903(a), 904, 905, 906, 907, and 908 of Regulation SBSR (17
                CFR 242.901, 902, 903(a), 904, 905, 906, 907, and 908) under the
                Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
                 Regulation SBSR consists of ten rules, Rules 900 to 909 under the
                Exchange Act. Regulation SBSR provides generally for the reporting of
                security-based swap information to a registered security-based swap
                data repository (``registered SDRs'') or the Commission, and the public
                dissemination of security-based swap transaction, volume, and pricing
                information by registered SDRs. Rule 901 specifies, with respect to
                each reportable event pertaining to covered transactions, who is
                required to report, what data must be reported, when it must be
                reported, where it must be reported, and how it must be reported. Rule
                901(a)(1) of Regulation SBSR requires a platform to report to a
                registered security-based swap data repository (``registered SDR'') a
                security-based swap executed on such platform that will be submitted to
                clearing. Rule 901(a)(2)(i) of Regulation SBSR requires a registered
                clearing agency to report to a registered SDR any security-based swap
                to which it is a counterparty. Rules 902 to 909 of Regulation SBSR
                provide additional details as to how such reporting and public
                dissemination is to occur.
                 The Commission estimates that a total of approximately 4900
                entities will be impacted by Regulation SBSR, including registered
                SDRs, registered security-based swap dealers, registered major
                securities-based swap participants, registered clearing agencies,
                platforms, and reporting sides and other market participants. The
                Commission estimates that the total reporting burden for Regulation
                SBSR, for all respondents, is approximately 538,257.60 hours initially
                (which equates to approximately 179,419.20 hours per year when
                annualized over three years), with a total ongoing burden thereafter of
                approximately 1,887,021.07 hours per year. Thus, the aggregate yearly
                burden is approximately
                [[Page 63927]]
                2,066,441 hours (2,066,440.27 rounded up). In addition, the Commission
                estimates that the total cost for all of Regulation SBSR for all
                respondents is approximately $21,264,300 initially (which equates to
                approximately $7,088,100 per year when annualized over three years),
                with a total ongoing cost thereafter of approximately $80,331,371 per
                year. Thus, the aggregate annual cost for all respondents is
                approximately $87,419,472 ($87,419,471.30 rounded up). A detailed
                break-down of the burdens applicable to each type of entity is provided
                in the supporting statement.
                 An agency may not conduct or sponsor, and a person is not required
                to respond to, a collection of information under the PRA unless it
                displays a currently valid OMB control number.
                 The public may view background documentation for this information
                collection at the following website: www.reginfo.gov. Comments should
                be directed to: (i) Desk Officer for the Securities and Exchange
                Commission, Office of Information and Regulatory Affairs, Office of
                Management and Budget, Room 10102, New Executive Office Building,
                Washington, DC 20503, or by sending an email to:
                [email protected]; and (ii) Charles Riddle, Acting Director/
                Chief Information Officer, Securities and Exchange Commission, c/o
                Candace Kenner,100 F Street NE, Washington, DC 20549, or by sending an
                email to: [email protected]. Comments must be submitted to OMB within
                30 days of this notice.
                 Dated: November 8, 2019.
                Jill M. Peterson,
                Assistant Secretary.
                [FR Doc. 2019-25001 Filed 11-18-19; 8:45 am]
                 BILLING CODE 8011-01-P
                

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