[Federal Register Volume 84, Number 173 (Friday, September 6, 2019)]
[Notices]
[Pages 46985-46986]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19241]
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SECURITIES AND EXCHANGE COMMISSION
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:
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'') is soliciting comments on the existing
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.). The Commission plans to submit this existing
collection of information to the Office of Management and Budget
(``OMB'') for extension and approval.
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 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.
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 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: Charles Riddle, Acting
Director/Chief Information Officer, Securities and Exchange Commission,
c/o Candace Kenner, 100 F Street NE, Washington,
[[Page 46986]]
DC 20549, or send an email to: [email protected].
Dated: September 3, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-19241 Filed 9-5-19; 8:45 am]
BILLING CODE 8011-01-P