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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:
3235-0033
ICR Reference No:
202312-3235-016
Status:
Historical Inactive
Previous ICR Reference No:
202204-3235-004
Agency/Subagency:
SEC
Agency Tracking No:
TM-240-026
Title:
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule and continue
Conclusion Date:
01/26/2024
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/21/2023
Terms of Clearance:
OIRA will review the ICR again upon finalization of the rule.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2025
11/30/2025
11/30/2025
Responses
425,601,810
0
425,601,810
Time Burden (Hours)
8,342,195
0
8,342,195
Cost Burden (Dollars)
105,320,999
0
105,320,999
Abstract:
Rule 17a-3 requires certain records to be made by certain exchange members and registered brokers and dealers. The rule serves to standardize prudent business practices. Among other things, these records are essential for regulatory purposes including examinations, investigations, and enforcement proceedings, which are significant customer protection safeguards. Partial Revision-- the Commission is proposing to revise this collection of information in connection with a 2023 rulemaking to adopt new rule 15l-2 under the Exchange Act to require broker-dealers to have an established framework for eliminating or neutralizing certain conflicts of interest. The proposed amendments to Rule 17a-3 would require broker-dealers to make and maintain all records required to be made and maintained pursuant to proposed rule 15l-2, which would result in new estimates to this collection of information.
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-AN14
Proposed rulemaking
88 FR 53960
08/09/2023
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
21
IC Title
Form No.
Form Name
Security-based swap activities: Paragraphs (a)(1), (a)(3), (a)(5), (a)(6), (a)(7), (a)(8), (a)(9), (a)(26), and (a)(27)
Broker-dealer SBSDs and broker-dealer MSBSPs: Paragraphs (a)(25), (a)(28), and (a)(30)
Broker-dealer SBSDs only: Paragraph (a)(29)
17a-3(a)(35) Record of Oral Disclosure
Ongoing cost for equipment & systems development
Rule 17a-3(24), Record of Date Form CRS Provided to Each Customer and Prospective Customer
Rule 17a-3(35) Record of Identity of Associate Person Responsible For Account- Large Broker-Dealers
Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Firm Burden- Small Broker-Dealers
Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Individual Burden
Rule 17a-3(a)(12, 19)
Rule 17a-3(a)(16)
Rule 17a-3(a)(17) - providing updated information to customers
Rule 17a-3(a)(17)(i)(B(1) - Small BD
Rule 17a-3(a)(17)(i)(B(2) + (3) - Small BD
Rule 17a-3(a)(17)(i)(B)(1) - Large BD
Rule 17a-3(a)(17)(i)(B)(2) + (3) - Large BD
Rule 17a-3(a)(20-22)
Rule 17a-3(a)(23) Part I
Rule 17a-3(a)(23) Part II
Rule 17a-3(a)(36)
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers
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:
No
Burden Reduction Due to:
Short Statement:
The Commission recently proposed rule amendments that would add a new IC and hour burdens to this ICR. These proposed revisions are discussed in more detail in the attached Supporting Statement.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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?
No
Agency Contact:
Devin Ryan 202 551-7654 ryande@sec.gov
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:
12/21/2023
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