[Federal Register Volume 90, Number 68 (Thursday, April 10, 2025)]
[Notices]
[Page 15380]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-06128]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[OMB Control No. 3235-0496]


Submission for OMB Review; Comment Request; Extension: Appendix F 
to Rule 15c3-1

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 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Appendix F to Rule 15c3-1 
(``Appendix F'' or ``Rule 15c3-1f'') (17 CFR 240.15c3-1f) under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act'').
    Appendix F applies to certain members of a class of broker-dealers 
known as over-the-counter (``OTC'') derivatives dealers. Exchange Act 
Rule 15c3-1 is the Commission's net capital rule for broker-dealers.\1\ 
Under Appendix F, an OTC derivatives dealer that is not a security-
based swap dealer may apply to the Commission for authorization to 
compute net capital charges for market and credit risk in accordance 
with Appendix F in lieu of computing securities haircuts under 
paragraph (c)(2)(vi) of Exchange Act Rule 15c3-1.\2\
---------------------------------------------------------------------------

    \1\ 17 CFR 240.15c3-1. An OTC derivatives dealer that is also 
registered as a security-based swap dealer is subject to the net 
capital provisions of Exchange Act Rule 18a-1 (17 CFR 240.18a-1).
    \2\ An OTC derivatives dealer that is also registered as a 
security-based swap dealer may apply to the Commission for 
authorization to compute deductions for market and credit risk using 
models under paragraph (d) of Rule 18a-1.
---------------------------------------------------------------------------

    At present, two OTC derivatives dealers have been approved to use 
Appendix F. No additional OTC derivatives dealers have applied to use 
Appendix F, and the staff does not expect that any additional OTC 
derivatives dealers will apply to use Appendix F during the next three 
years. The Commission estimates that the two approved OTC derivatives 
dealers will spend an average of approximately 1,000 hours each per 
year reporting information concerning their value-at-risk (``VAR'') 
models and internal risk management systems, for a total annual burden 
of approximately 2,000 hours.
    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.
    Written comments are invited on: (a) whether this collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information will have practical 
utility; (b) the accuracy of the agency's estimate of the burden 
imposed by the 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.
    The public may view and comment on this information collection 
request at: https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202501-3235-030 or send an email comment to 
[email protected] within 30 days of the day 
after publication of this notice by May 12, 2025.

    Dated: April 7, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-06128 Filed 4-9-25; 8:45 am]
BILLING CODE 8011-01-P