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Federal Register / Vol. 86, No. 155 / Monday, August 16, 2021 / Notices EXCHANGE ACT RULE 18a5Continued Record making
Order paragraph
Rule paragraph
Rule description
d1iK

b14iii

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The following table summarizes the Commissions preliminary determinations with respect to requirements of Exchange Act rule 18a5 for which a positive substituted compliance determination would not be made because they are fully linked to
Additional conditions and partial exclusions
substantive Exchange Act requirements for which the proposed Order would not provide substituted compliance by listing in each row: 1 The paragraph of the proposed Order that sets forth the determination; 2 the paragraph of Exchange Act rule 18a5 to which the
Rule 15Fi4 Condition.

determination applies; 3 a brief description of the records required by the paragraph; and 4 a brief description of why the requirement is excluded from substituted compliance.

EXCHANGE ACT RULE 18a5
Record making Order paragraph
Rule paragraph
Rule description
d1iiC
d1iiC
d1iiC

b9
b10
b12

Possession or control records
Reserve computations
Political contribution records

3. Exchange Act Rule 18a6
Exchange Act rule 18a6 requires an SBS Entity to preserve certain types of records if it makes or receives them in addition to the records the SBS Entity is required to make and keep current pursuant to Exchange Act rule 18a5.92
Exchange Act rule 18a6 also prescribes the time period that these additional records and the records required to be made and kept current pursuant to Exchange Act rule 18a5 must be preserved and the manner in which they must be preserved.
Paragraphs a through d of Exchange Act rule 18a6 identify the records that an SBS Entity must retain if it makes or receives them and prescribes the retention periods for these records as well as for the records that must be made and kept current pursuant to Exchange Act rule 18a5.
Certain of these paragraphs prescribe requirements separately for SBS Entities without a prudential regulator and SBS
Entities with a prudential regulator.93
The proposed Order would make substituted compliance available for the requirements of these paragraphs applicable to SBS Entities with a prudential regulator. As discussed below, the Commission is making a lotter on DSK11XQN23PROD with NOTICES1

92 See
17 CFR 240.18a6.
a1, b1, d2i, and d3i of Exchange Act rule 18a6 apply to SBS Entities without a prudential regulator. Paras. a2, b2, d2ii, and d3ii of Exchange Act rule 18a6 apply to SBS Entities with a prudential regulator. Paras. c, d1, d4, and d5 of Exchange Act rule 18a6 apply to SBS Entities irrespective of whether they have a prudential regulator.
93 Paras.

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Exclusion
preliminary positive substituted compliance determination for many of the requirements of these paragraphs applicable to SBS Entities with a prudential regulator.
However, certain of these requirements are fully or partially linked to substantive Exchange Act requirements for which a preliminary positive substituted compliance determination would not be made under the proposed Order. In these cases, a positive substituted compliance determination would not be made for the linked requirement in Exchange Act rule 18a6.94
94 A positive substituted compliance determination would not be made for the following requirements of Exchange Act rule 18a6 because they are linked to a substantive Exchange Act requirement for which the proposed Order would not provide substituted compliance: 1 Exchange Act rule 18a6b2vi is fully linked to Regulation SBSR and, therefore, would be subject to the Regulation SBSR Exclusion; 2 Exchange Act rule 18a6b2viii is fully linked to Exchange Act rule 15Fh4 and, therefore, would be subject to the Rule 15Fh4 Exclusion; 3 Exchange Act rule 18a 6b2viii is fully linked to Exchange Act rule 15Fh5 and, therefore, would be subject to the Rule 15Fh5 Exclusion; 4 Exchange Act rule 18a 6b2v is fully linked to Exchange Act rule 18a 4 and, therefore, would be subject to the Rule 18a 4 Exclusion; 5 the portion of Exchange Act rule 18a6c relating to Form SBSE and its variations would be subject to the Form SBSE Exclusion; 6
the portion of Exchange Act rule 18a6b2vii that relates to Exchange Act rule 15Fh1 would be subject to the 15Fh1 Exclusion; 7 the portion of Exchange Act rule 18a6b2vii that relates to Exchange Act rule 15Fh2 would be subject to the 15Fh2 Exclusion; 8 the portion of Exchange Act rule 18a6b2vii that relates to Exchange Act rule 15Fh4 would be subject to the 15Fh4
Exclusion; 9 the portion of Exchange Act rule 18a 6b2vii that relates to Exchange Act rule 15Fh 5 would be subject to the 15Fh5 Exclusion; 10

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Rule 18a4 Exclusion.
Rule 18a4 Exclusion.
Rule 15Fh6 Exclusion.

In addition, certain of the requirements in Exchange Act rule 18a 6 are fully or partially linked to substantive Exchange Act requirements where a positive substituted compliance determination would be made under the proposed Order. In these cases, substituted compliance with the requirement in Exchange Act rule 18a 6 would be conditioned on the Covered Entity applying substituted compliance to the linked substantive Exchange Act requirement.95
Paragraph e of Exchange Act rule 18a6 sets forth the requirements for preserving records electronically.
Paragraph f sets forth requirements for when records are prepared or maintained by a third party. The Order would make substituted compliance available for the requirements of paragraphs e and f of Exchange Act the portion of Exchange Act rule 18a6b2vii that relates to Exchange Act rule 15Fh6 would be subject to the 15Fh6 Exclusion; and 11 the portion of Exchange Act rules 18a6d4 and d5
that relates to Exchange Act rule 15Fi5 would be subject to the Rule 15Fi5 Exclusion.
95 Substituted compliance with the following requirements of Exchange Act rule 18a6 would be conditioned on the Covered Entity applying substituted compliance to the linked substantive Exchange Act requirement: 1 Exchange Act rule 18a6b2vii is linked to Exchange Act rule 15Fh3 and, therefore, would be subject to the Rule 15Fh3h Condition; 2 Exchange Act rule 18a 6b2vii is linked to Exchange Act rule 15Fk1
and, therefore, would be subject to the Rule 15Fk 1 Condition; 3 Exchange Act rules 18a6d4 and d5 are linked to Exchange Act rule 15Fi3 and, therefore, would be subject to the Rule 15Fi3
Condition; and 4 Exchange Act rules 18a6d4
and d5 are linked to Exchange Act rule 15Fi4
and, therefore, would be subject to the Rule 15Fi 4 Condition.

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