The Securities and Exchange Commission (SEC) is seeking public comments on the existing information collection under Appendix F to Rule 15c3-1 concerning OTC derivatives dealers. Appendix F allows certain derivatives dealers to use specific models for calculating their net capital charges instead of standard methods. Currently, only two dealers are authorized to use Appendix F, and the SEC estimates each will spend around 1,000 hours a year on related reporting. Comments on this collection are invited until April 7, 2025, focusing on its necessity, the SEC's burden estimates, and ways to improve the data collection process.
Simple Explanation
The SEC is asking people to share their thoughts about some special rules for two companies who trade in complicated money deals called OTC derivatives. They want to know if the rules are helpful and if the work it takes to follow them is fair.