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Federal Register / Vol. 86, No. 155 / Monday, August 16, 2021 / Notices rule 18a6 with respect to Covered Entities with a prudential regulator.96
Paragraph g of Exchange Act rule 18a6 requires an SBS Entity to furnish promptly to a representative of the Commission legible, true, complete, and current copies of those records of the SBS Entity that are required to be preserved under Exchange Act rule 18a 6, or any other records of the SBS Entity that are subject to examination or required to be made or maintained pursuant to section 15F of the Exchange Act that are requested by a
representative of the Commission. The proposed Order would not make substituted compliance available for the requirements of paragraph g of Exchange Act rule 18a6 because there is no comparable requirement in Switzerland to produce these records to a representative of the Commission.
The following table summarizes the Commissions preliminary positive substituted compliance determinations with respect to requirements of Exchange Act rule 18a-6 by listing in each row: 1 The paragraph of the
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proposed Order that sets forth the determination; 2 the paragraphs of Exchange Act rule 18a6 to which the determination applies; 3 a brief description of the records required by the paragraphs; and 4 a brief description of any additional conditions to applying substituted compliance to the requirements, including any partial exclusions because portions of the requirements are linked to substantive Exchange Act requirements for which the proposed Order would not provide substituted compliance.97

EXCHANGE ACT RULE 18a6
Record preservation Order paragraph
Rule paragraph
Rule description

a2
b2i
b2ii
b2iii
b2iv
b2vii

6 year record preservation
3 year record preservation
Communications
Account documents
Written agreements
Business conduct standard records

d2iG
d2iH
d2iI
d2iJ

c
d1
d2ii
d3ii

d2iK

d4
d5

Corporate documents
Associated persons employment application Regulatory authority reports
Compliance, supervisory, and procedures manuals.
Portfolio reconciliation

d2iL
d2iM

e
f

d2iA
d2iB
d2iC
d2iD
d2iE
d2iF

The following table summarizes the Commissions preliminary determinations with respect to requirements of Exchange Act rule 18a 6 for which a positive substituted compliance determination would not be made because they are fully linked to
Conditions and partial exclusions
Electronic storage system
Third-party recordkeeper

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 18a6 to which the
N/A.
N/A.
N/A.
N/A.
N/A.
1 Rule 15Fh3h Condition.
2 Rule 15Fk1 Condition.
3 Rule 15Fh1 Exclusion.
4 Rule 15Fh2 Exclusion.
5 Rule 15Fh4 Exclusion.
6 Rule 15Fh5 Exclusion.
7 Rule 15Fh6 Exclusion.
Form SBSE Exclusion.
N/A.
N/A.
N/A.
1 Rule 15Fi3 Condition.
2 Rule 15Fi4 Condition.
3 Rule 15Fi5 Exclusion.
N/A.
N/A.

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

EXCHANGE ACT RULE 18a6

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Preservation Order paragraph
Rule paragraph
Rule description
d2ii
d2ii
d2ii

b2v
b2vi
b2viii

Information supporting financial reports
Regulation SBSR information
Special entity documents

4. Exchange Act Rule 18a7
Exchange Act rule 18a7 requires SBS
Entities, on a monthly basis if not 96 See paras. d2iL and M of the proposed Order.
97 The chart below does not include the proposed conditions for applying substituted compliance to
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Exclusion Rule 18a4 Exclusion.
Regulation SBSR Exclusion.
1 Rule 15Fh4 Exclusion.
2 Rule 15Fh5 Exclusion.

prudentially regulated or on a quarterly basis if prudentially regulated, to file an unaudited financial and operational
report on the FOCUS Report Part II if not prudentially regulated or Part IIC if prudentially regulated. The
Exchange Act rule 18a6; namely that the Covered Entity: 1 must be subject to and complies with the requirements of foreign law; and 2 must promptly furnish to a representative of the Commission upon
request an English translation of a record. See para.
d7 of the proposed Order setting forth the English translation requirement.

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