Notice2021-12656
Proposed Collection; Comment Request
Primary source
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Published
June 16, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 86 Issue 114 (Wednesday, June 16, 2021)</title>
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[Federal Register Volume 86, Number 114 (Wednesday, June 16, 2021)]
[Notices]
[Page 32102]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-12656]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-629, OMB Control No. 3235-0719]
Proposed Collection; 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:
Exchange Act Rules 13n-1--13n-12; Form SDR
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'') is soliciting comments on the existing
collection of information provided for in Rules 13n-1 through 13n-12
(17 CFR 240.13n-1 through 240.13n-12) and Form SDR (``Rules''), under
the Securities Exchange Act of 1934 (15 U.S.C. 78m(n)(3) et seq.). The
Commission plans to submit this existing collection of information to
the Office of Management and Budget (``OMB'') for extension and
approval.
Under the Rules, security-based swap data repositories (``SDRs'')
are required to register with the Commission by filing a completed Form
SDR (the filing of a completed Form SDR also constitutes an application
for registration as a securities information processor (``SIP'')). SDRs
are also required to abide by certain minimum standards set out in the
Rules, including a requirement to update Form SDR, abide by certain
duties and core principles, maintain data in accordance with the rules,
keep systems in accordance with the Rules, keep records, provide
reports to the Commission, maintain the privacy of security-based swaps
(``SBSs'') data, make certain disclosures, and designate a Chief
Compliance Officer. In addition, there are a number of collections of
information contained in the Rules. The information collected pursuant
to the Rules is necessary to carry out the mandates of the Dodd-Frank
Act and help ensure an orderly and transparent market for SBSs.
Assuming a maximum of ten SDRs, the Commission estimates that the
total reporting burden for all of the Rules and Form SDR for all
respondents is 463,493 hours initially, with a total annual burden
thereafter of 270,511.70 hours totaling approximately 1,275,028 hours.
This equates to approximately 425,009.29 hours per year when annualized
over three years. In addition, the Commission estimates that the total
cost for all of the Rules and Form SDR for all respondents is
approximately $103,364,700 initially, with a total annual cost
thereafter of $65,227,720 totaling approximately $299,047,860. This
equates to $99,682,619.90 per year when annualized over three years. A
detailed break-down of the estimated burdens and costs is provided in
the supporting statement.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimates of the burden of the proposed collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology.
Consideration will be given to comments and suggestions submitted in
writing within 60 days of this publication.
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.
Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o
Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email
to: <a href="/cdn-cgi/l/email-protection#fbaba9baa4b69a9297999483bb889e98d59c948d"><span class="__cf_email__" data-cfemail="e7b7b5a6b8aa868e8b85889fa7948284c9808891">[email protected]</span></a>.
Dated: June 10, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-12656 Filed 6-15-21; 8:45 am]
BILLING CODE 8011-01-P
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