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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0444
ICR Reference No:
200702-3235-004
Status:
Historical Active
Previous ICR Reference No:
200402-3235-002
Agency/Subagency:
SEC
Agency Tracking No:
270-389
Title:
Confirmation of Securities Transactions (17 C.F.R. 240.10b-10)
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
08/09/2007
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/30/2007
Terms of Clearance:
The agency should be sure to accurately report changes in burden.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
08/31/2010
36 Months From Approved
08/31/2007
Responses
4,664,001,336
4,664,001,336
2,540,000
Time Burden (Hours)
93,280,027
93,280,027
42,300,000
Cost Burden (Dollars)
4,244,241,216
4,244,241,216
2,260,000,000
Abstract:
Rule 10b-10 under the Securities Exchange Act of 1934 requires broker-dealers to send a written statement to customers containing basic information regarding their securities transactions. The rule applies to all transactions in securities other than municipal securities or U.S. savings bonds and certain investment company securities or municipal fund securities which Section 240.15c2-2 applies to.
Authorizing Statute(s):
US Code: 15 USC 78a Name of Law: Securities and Exchange Act of 1934
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
72 FR 6013
02/08/2007
30-day Notice:
Federal Register Citation:
Citation Date:
72 FR 20150
04/23/2007
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Confirmation of Securities Transactions (17 C.F.R. 240.10b-10)
ICR Summary of Burden
Total Approved
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
4,664,001,336
2,540,000
0
0
4,661,461,336
0
Annual Time Burden (Hours)
93,280,027
42,300,000
0
0
50,980,027
0
Annual Cost Burden (Dollars)
4,244,241,216
2,260,000,000
0
0
1,984,241,216
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:
No
Burden Reduction Due to:
Short Statement:
The Commission staff has changed its estimate of burden because we believe the data and method we are currently using to produce our estimate are more reliable than the data and method used before. The change does not result from changes in the Commission’s administration of the rule. The changes in burden are due to several factors. First, the Commission proposed new Rule 15c2-2 in 2004. Because proposed Rule 15c2-2 would have governed confirmation disclosure of purchases and sales in investment company and related securities, we proposed in 2004 to amend Rule 10b-10 to exclude those securities. This would have resulted in a significant number of transaction confirmations being delivered pursuant to Rule 15c2-2 instead of Rule 10b-10, thereby reducing the burdens of complying with Rule 10b-10.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [PPACA, P.L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Act [Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Agency Contact:
Norman Reed 202 551-5576
Common Form ICR:
No
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:
04/30/2007
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