[Federal Register Volume 87, Number 222 (Friday, November 18, 2022)]
[Notices]
[Pages 69362-69363]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-25096]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-817, OMB Control No. 3235-0771]


Proposed Collection; Comment Request; Extension: Rule 3a71-3(d)

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 3a71-3(d), (17 CFR 
240.3a71-3(d)), under the Securities Exchange Act of 1934 (``Exchange 
Act'') (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 3a71-3 under the Exchange Act provides in part that, for 
purposes of determining whether they can avail themselves of the de 
minimis exception to the ``security-based swap dealer'' definition, 
non-U.S. persons must count certain dealing transactions with non-U.S. 
counterparties that have been ``arranged, negotiated, or executed'' by 
personnel in the United States. Rule 3a71-3(d) provides an exception 
from that ``arranged, negotiated, or executed'' counting requirement.
    The Commission estimates that up to 24 entities may seek to rely on 
the exception to the de minimis counting requirement of Rule 3a71-3. In 
connection with the conditions to the exception, each of those up to 24 
entities would make use of an affiliated registered security-based swap 
dealer or registered broker. In general, the registered entity would be 
required to comply with the collections of information. Applications 
for ``listed jurisdiction'' status may be submitted by the up to 24 
relying entities, but the staff believes that the greater portion of 
such applications will be submitted by foreign financial authorities.
    The Commission estimates that the total annual time burden for Rule 
3a71-3(d), for all respondents, is approximately 235,243 hours per 
year. In addition, the Commission estimates that the total annual cost 
burden for Rule 3a71-3(d), for all respondents, is approximately 
$1,242,595 per year. A detailed break-down of the burdens 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

[[Page 69363]]

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 January 17, 2023.
    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: 
[email protected].

    Dated: November 14, 2022.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2022-25096 Filed 11-17-22; 8:45 am]
BILLING CODE 8011-01-P


