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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:
201309-3235-006
Status:
Historical Active
Previous ICR Reference No:
201103-3235-025
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-087
Title:
Rule 15c3-3; Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
10/28/2013
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/12/2013
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2016
36 Months From Approved
05/31/2014
Responses
1,838
0
279
Time Burden (Hours)
464,153
0
65,091
Cost Burden (Dollars)
2,631,926
0
507,492
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. Rule 15c3-3 also contains requirements for broker-dealers that hold security futures products for customers.
Authorizing Statute(s):
US Code:
15 USC 78b, 78c, 78o, 78o-4, 78q, 78w
Name of Law: Sections 2, 3, 15, 15B, 17 and 23 of the Securities Exchange Act of 1934.
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AJ85
Final or interim final rulemaking
78 FR 51824
08/21/2013
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
14
IC Title
Form No.
Form Name
Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)
Rule 15c3-3 PAIB
Rule 15c3-3 Part 2
Rule 15c3-3(a)(16)
Rule 15c3-3(b)(5) Part 1
Rule 15c3-3(b)(5) Part 2
Rule 15c3-3(e) Part 1
Rule 15c3-3(e) Part 2
Rule 15c3-3(f) Part 1
Rule 15c3-3(f) Part 2
Rule 15c3-3(j)(1) Part 1
Rule 15c3-3(j)(1) Part 2
Rule 15c3-3(j)(2) Part 1
Rule 15c3-3(o)
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
1,838
279
0
1,559
0
0
Annual Time Burden (Hours)
464,153
65,091
0
399,062
0
0
Annual Cost Burden (Dollars)
2,631,926
507,492
0
2,124,434
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Changing Regulations
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
The changes in burdens occurred primarily due to adjustments in the number of registered broker-dealers, adjustments in the postage rates, and the adoption of the July 30, 2013 amendments to the broker-dealer financial responsibility rules (Financial Responsibility Rules for Broker-Dealers, Securities Exchange Act Release No. 70072 (July 30, 2013), 78 FR 51824 (Aug. 21, 2013)), which address several areas of concern regarding these rules. Specifically, the amendments to Rule 15c3-3 enhance customer protection by, among other things, placing restrictions on the amount of cash a broker-dealer may deposit in its special reserve bank account, and enhancing requirements regarding a broker-dealer's treatment of a customer's free credit balances.
Annual Cost to Federal Government:
$1,050
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:
09/12/2013
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