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View ICR - Agency Submission
COMMENT
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OMB Control No:
3235-0279
ICR Reference No:
202403-3235-006
Status:
Received in OIRA
Previous ICR Reference No:
202301-3235-027
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-198
Title:
Rule 17a-4; Records to be Preserved 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
Date Submitted to OIRA:
03/29/2024
Requested
Previously Approved
Expiration Date
01/31/2026
01/31/2026
Responses
1,010,927,777
1,010,925,202
Time Burden (Hours)
9,306,888
9,306,630
Cost Burden (Dollars)
34,195,757
34,195,757
Abstract:
PROPOSED PARTIAL REVISION: Rule 17a-4 requires certain records to be maintained by certain exchange members and registered brokers and dealers. This submission includes a proposed new recordkeeping requirement in Rule 17a-4 related to proposed Rule 15l-2.
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:
22
IC Title
Form No.
Form Name
17a-4(f) - Audit Trail Alternative to WORM for Small Broker-Dealers (Annual)
17a-4(f) - Audit Trail Alternative to WORM for Small Broker-Dealers (Initial Annualized)
17a-4(f) - Backup Systems or Redundant Equivalency
17a-4(f) - Backup Systems or Redundant Equivalency for Large BDs (Annual)
17a-4(f) - Backup Systems or Redundant Equivalency for Large BDs (Initial Annualized)
17a-4(f) - Backup Systems or Redundant Equivalency for Small BDs (Annual)
17a-4(f) Audit trail alternative to WORM for Large Broker-Dealers (Annual)
17a-4(f) Audit trail alternative to WORM for Large Broker-Dealers (Initial Annualized)
Alternative undertaking - Broker-dealers
Alternative undertaking - Cloud Service Providers
Broker-Dealer SBSDs Only
Broker-Dealer SBSDs and Broker-Dealer MSBSPs
Record Retention re 15l-2
Rule 17a-4(b)(1), (e)(11), (e)(12) - Risk Mitigation
Rule 17a-4(b)(11) Record preservation requirements
Rule 17a-4(e)(10), Maintenance of Records in Connection with Rule 17a-14 and Form CRS
Rule 17a-4(e)(5), New or Modified Documents Being Added to a Record Retention System in Connection with Regulation BI
Rule 17a-4(e)(5), Ongoing Recordkeeping in Connection with Regulation Best Interest
Rule 17a-4; Records to be Preserved by Certain Exchange Members, Brokers and Dealers
Security-Based Swap Activities
Telephonic Communications
Third Party or Designated Executive Officer Undertaking
ICR Summary of Burden
Total Request
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
1,010,927,777
1,010,925,202
0
2,575
0
0
Annual Time Burden (Hours)
9,306,888
9,306,630
0
258
0
0
Annual Cost Burden (Dollars)
34,195,757
34,195,757
0
0
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:
No
Burden Reduction Due to:
Short Statement:
The proposed partial revision would add a new information collection that is connected to the Commission's proposed Rule 15l-2. The proposed revision and the increase in burden is 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:
03/29/2024
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