Rule 18a-4, Segregation requirements for security-based swap dealers and major security-based swap participants

Forms and Documents

Document Name	Status
20250925_3235-0700_2025-18647_90 FR 46291_30-Day Submission Notice.pdf.pdf Supplementary Document	2025-09-25
20250723_3235-0700_2025-13864_90 FR 34709_60-Day Collection Notice.pdf Supplementary Document	2025-07-23
3235-0700 Supporting statement (2025 Extension).pdf Supporting Statement A	2025-07-18

IC Document Collections

IC ID	Document Title	Status
237023	IC16 - Rule 18a-4 - Subordination Agreements, Outside Counsel Review-- Initial, One-Time Cost	Modified
237022	IC15 - Rule 18a-4(d)(1) (Counterparty Notice, Outside Counsel Review)-- Initial Cost	Modified
237020	IC14 - Rule 18a-4(f) (Exemptions)-- Ongoing Burden	Modified
237019	IC13 - Rule 18a-4(f) (Exemptions, Incorporating Disclosure Language)-- Initial Burden	Modified
237018	IC12 - Rule 18a-4(f) (Exemptions, Developing Disclosure Language--Initial Burden	Modified
237017	IC11 - Rule 18a-4(e)(3) (Disclosure to U.S. Counterparties)-- Ongoing Burden	Modified
237016	IC10 - Rule 18a-4(e)(3) (Disclosure to U.S. Counterparties, Incorporating New Language)-- Initial Burden	Modified
237015	IC9 - Rule 18a-4(e)(3) (Disclosures to U.S. Counterparties, Developing Forms)-- Initial Burden	Modified
237012	IC8 - Rule 18a-4(d)(2) (Subordination Agreements)-- Ongoing Burden	Modified
237003	IC7 - Rule 18a-4(d)(2) (Subordination Agreements, Entering Into)-- Initial Burden	Modified
237001	IC6 - Rule 18a-4(d)(2) (Subordination Agreements, Drafting)-- Initial Burden	Modified
236999	IC5 - Rule 18a-4(d)(1) (Counterparty Notice)-- Ongoing Burden	Modified
236997	IC4 - Rule 18a-4(d)(1) (Counterparty Notice)-- Initial Burden	Modified
236996	IC2 - Rule 18a-4(a) (Special Accounts)-- Ongoing Burden	Modified
236995	IC1 - Rule 18a-4(a) (Special Accounts)-- Initial Burden	Modified
206760	IC3 - Rule 18a-4(c) (Customer Reserve Computation)-- Ongoing Burden	Modified

ICR Details

OMB Control No: 3235-0700	ICR Reference No: 202507-3235-013
Status: Received in OIRA	Previous ICR Reference No: 202207-3235-021
Agency/Subagency: SEC	Agency Tracking No: TM
Title: Rule 18a-4, Segregation requirements for security-based swap dealers and major security-based swap participants
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/25/2025

	Requested	Previously Approved
Expiration Date	36 Months From Approved	11/30/2025
Responses	12,709	12,438
Time Burden (Hours)	15,486	7,647
Cost Burden (Dollars)	4,000	2,667

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Abstract: Rule 18a-4, 17 CFR 240.18a-4, establishes customer protection and segregation requirements for all firms required to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 as security-based swap dealers and major security-based swap participants. The information collection requirements in the rule are recordkeeping and third-party disclosure requirements related to the customer protection and segregation standards to ensure that firms do not misappropriate customer assets for their own or other unauthorized uses.

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Authorizing Statute(s): US Code: 15 USC 78a et seq Name of Law: Securities Exchange Act of 1934
   PL: Pub.L. 111 - 203 763 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 34709	07/23/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 46291	09/25/2025
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 16

IC Title	Form No.	Form Name
IC1 - Rule 18a-4(a) (Special Accounts)-- Initial Burden
IC10 - Rule 18a-4(e)(3) (Disclosure to U.S. Counterparties, Incorporating New Language)-- Initial Burden
IC11 - Rule 18a-4(e)(3) (Disclosure to U.S. Counterparties)-- Ongoing Burden
IC12 - Rule 18a-4(f) (Exemptions, Developing Disclosure Language--Initial Burden
IC13 - Rule 18a-4(f) (Exemptions, Incorporating Disclosure Language)-- Initial Burden
IC14 - Rule 18a-4(f) (Exemptions)-- Ongoing Burden
IC15 - Rule 18a-4(d)(1) (Counterparty Notice, Outside Counsel Review)-- Initial Cost
IC16 - Rule 18a-4 - Subordination Agreements, Outside Counsel Review-- Initial, One-Time Cost
IC2 - Rule 18a-4(a) (Special Accounts)-- Ongoing Burden
IC3 - Rule 18a-4(c) (Customer Reserve Computation)-- Ongoing Burden
IC4 - Rule 18a-4(d)(1) (Counterparty Notice)-- Initial Burden
IC5 - Rule 18a-4(d)(1) (Counterparty Notice)-- Ongoing Burden
IC6 - Rule 18a-4(d)(2) (Subordination Agreements, Drafting)-- Initial Burden
IC7 - Rule 18a-4(d)(2) (Subordination Agreements, Entering Into)-- Initial Burden
IC8 - Rule 18a-4(d)(2) (Subordination Agreements)-- Ongoing Burden
IC9 - Rule 18a-4(e)(3) (Disclosures to U.S. Counterparties, Developing Forms)-- Initial Burden

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	12,709	12,438	0	271	0	0
Annual Time Burden (Hours)	15,486	7,647	0	7,839	0	0
Annual Cost Burden (Dollars)	4,000	2,667	0	1,333	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: There are changes to the estimated burdens due to changes in the estimated number of respondents. These are discussed in more detail in the attached Supporting Statement.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/25/2025

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