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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:
3235-0078
ICR Reference No:
201102-3235-008
Status:
Historical Active
Previous ICR Reference No:
200709-3235-018
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-087
Title:
Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
03/30/2011
OIRA Conclusion Action:
Approved without change
Conclusion Date:
02/16/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/15/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
08/31/2011
6 Months From Approved
03/31/2011
Responses
279
0
344
Time Burden (Hours)
65,091
0
77,166
Cost Burden (Dollars)
507,492
0
447,148
Abstract:
Rule 15c3-3 provides for the protection of customer funds and securities in the custody of a broker-dealer. The Rule sets forth standards for (i) a broker-dealer's acceptance, custody, and use of customer securities, and (ii) the maintenance of reserves with respect to customer deposits and monies obtained from the use of customer securities. The Commission is adopting new requirements designed to eliminate conflicting and duplicative customer protection, recordkeeping, and reporting regulations applicable to security futures products.
Emergency Justfication:
This rule was intended to be revised, and accordingly a pre-approval for the revision was received in January. However, a decision was made that the revised rule will not be finalized, and the current OMB approval will expire 3/31/11. We are requesting an emergency extension of the existing active ICR so that we will be able to have time to publish the 30 day Federal Register notice scheduled for mid-March. The 60 day Federal Register notice was published. To date, we have not received any public comments on this collection.
Authorizing Statute(s):
US Code:
15 USC 78q, 78w, 78mm, 80a-30(a), 80a
Name of Law: Securities 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:
76 FR 2153
01/12/2011
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
Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)
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
279
344
0
0
-65
0
Annual Time Burden (Hours)
65,091
77,166
0
0
-12,075
0
Annual Cost Burden (Dollars)
507,492
447,148
0
0
60,344
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The change in burden hours is due to a decrease in the number of broker-dealers; a decrease in the number of accounts of broker-dealers subject to paragraph (o) of Rule 15c3-3; and a decrease in the number of notices filed each year. The change in burden cost is due to the increased cost estimate for printing and mailing related to security futures product accounts subject to paragraph (o) of Rule 15c3-3.
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 [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]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Sheila Swartz 202 551-5545
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:
02/15/2011
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