Notice2024-06371
Proposed Collection; Comment Request; Extension: Rule 18a-7
Primary source
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Published
March 26, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 59 (Tuesday, March 26, 2024)</title>
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[Federal Register Volume 89, Number 59 (Tuesday, March 26, 2024)]
[Notices]
[Pages 21071-21072]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-06371]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-669, OMB Control No. 3235-0749]
Proposed Collection; Comment Request; Extension: Rule 18a-7
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
[[Page 21072]]
(``Commission'') is soliciting comments on the existing collection of
information provided for in Rule 18a-7 (17 CFR 240.18a-7), 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.
Rule 18a-7 establishes reporting requirements applicable to stand-
alone security-based swap dealers (``SBSDs''), stand-alone major
security-based swap participants (``MSBSPs''), bank SBSDs, and bank
MSBSPs. Rule 18a-7 is modeled on Exchange Act Rule 17a-5, which applies
to broker-dealers, but Rule 18a-7 does not include a parallel
requirement for every requirement in Rule 17a-5 because some of the
requirements in Rule 17a-5 relate to activities that are not expected
or permitted of SBSDs and MSBSPs.
Under Rule 18a-7, stand-alone SBSDs and stand-alone MSBSPs are
required to file the FOCUS Report Part II and the annual reports, while
bank SBSDs and bank MSBSPs are required to file the FOCUS Report Part
IIC. Stand-alone SBSDs and stand-alone MSBSPs are required to file the
FOCUS Report Part II on a monthly basis, whereas bank SBSDs and bank
MSBSPs are required to file FOCUS Report Part IIC on a quarterly basis.
Moreover, under Rule 18a-7 stand-alone SBSDs and stand-alone MSBSPs are
required to make available to customers an audited statement of
financial condition with appropriate notes on their public website.
The Commission estimates that the total hour burden under Rule 18a-
7 is approximately 2,796 hours per year, and the total cost burden is
approximately $2,424,016 per year.
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 by
May 28, 2024.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information 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#96c6c4d7c9dbf7fffaf4f9eed6e5f3f5b8f1f9e0"><span class="__cf_email__" data-cfemail="efbfbdaeb0a28e86838d8097af9c8a8cc1888099">[email protected]</span></a>.
Dated: March 21, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-06371 Filed 3-25-24; 8:45 am]
BILLING CODE 8011-01-P
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