[Federal Register Volume 89, Number 59 (Tuesday, March 26, 2024)]
[Notices]
[Pages 21071-21072]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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: 
[email protected].

    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