Notice2022-19677
Proposed Collection; Comment Request; Extension: Rule 17Ab2-2
Primary source
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Published
September 13, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 176 (Tuesday, September 13, 2022)</title>
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[Federal Register Volume 87, Number 176 (Tuesday, September 13, 2022)]
[Notices]
[Pages 56121-56122]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-19677]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-617, OMB Control No. 3235-0728]
Proposed Collection; Comment Request; Extension: Rule 17Ab2-2
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
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 Rule 17Ab2-2 (17 CFR
240.17Ab2-2) under the Securities Exchange Act of 1934 (15 U.S.C. 78a
et seq.). The Commission plans to submit this existing collection of
information to the Office of Management and Budget (``OMB'') for
extension and approval.
Exchange Act Rule 17Ab2-2 establishes procedures for the Commission
to make a determination, either of its own initiative or upon
application by any clearing agency or member of a clearing agency,
whether a covered clearing agency is systemically important in multiple
jurisdictions and procedures to determine, if the Commission deems
appropriate, whether any of the activities of a clearing agency
providing central counterparty services, in addition to clearing
agencies registered with the Commission for the purpose of clearing
security-based swaps, have a more complex risk profile. In addition,
Exchange Act Rule 17Ab2-2 provides a procedure for the Commission to
determine whether to rescind any such determinations previously made by
the Commission.
Because determinations made by the Commission pursuant to Exchange
Act Rule 17Ab2-2 may be made upon the request of a clearing agency,
respondent clearing agencies would have the burden of preparing such
requests for submission to the Commission.
Commission staff estimates that Rule 17Ab2-2 will impose a PRA
burden on registered clearing agencies that seek a determination from
the Commission regarding the covered clearing agency's status as
systemically important in multiple jurisdictions. Commission staff
estimates that two registered clearing agencies or their members on
their behalf will apply for a Commission determination, or may be
subject to a Commission-initiated determination, regarding whether a
registered clearing agency is involved in activities with a more
complex risk profile or whether a covered clearing agency is
systemically important in multiple jurisdictions.
Commission staff estimates that each respondent clearing agency
incurs a one-time burden of 10 hours and a one-time cost of $2,000 to
draft and review a determination request submitted to the Commission,
for a total of 20 hours and $4,000 for all respondents. The total
annualized burden and cost for all respondents are 6.66 hours and
$1,333.33.
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
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 by November 14, 2022.
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 John
Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email to:
<a href="/cdn-cgi/l/email-protection#a2f2f0e3fdefc3cbcec0cddae2d1c7c18cc5cdd4"><span class="__cf_email__" data-cfemail="09595b4856446860656b6671497a6c6a276e667f">[email protected]</span></a>.
[[Page 56122]]
Dated: September 7, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-19677 Filed 9-12-22; 8:45 am]
BILLING CODE 8011-01-P
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