View Information Collection Request (ICR) Package
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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:
3235-0200
ICR Reference No:
201309-3235-008
Status:
Historical Active
Previous ICR Reference No:
201305-3235-009
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-197
Title:
Rule 15c3-1; Net Capital Requirements for 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:
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
08/31/2016
Responses
1,249
0
1,093
Time Burden (Hours)
55,179
0
58,925
Cost Burden (Dollars)
160,000
0
160,000
Abstract:
Rule 15c3-1 was adopted in 1971 to ensure that brokers and dealers maintain sufficient liquid assets in excess of liabilities to promptly satisfy the claims of customers in the event the broker or dealer fails.
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?
Yes
Number of Information Collection (IC) in this ICR:
22
IC Title
Form No.
Form Name
Rule 15c3-1 -- Net Capital Requirements for Brokers or Dealers (2013 amendments - permission to withdraw capital)
Rule 15c3-1 -- Net Capital Requirements for Brokers or Dealers (2013 amendments - updating standard stock loan agreement)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix C) - Opinion of Counsel
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - backtesting - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - backtesting)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update models - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update models)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update risk management control system - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update risk management control system)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E - one-time burden for new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - annual burden of making & preserving records - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - annual burden of making & preserving records)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - notification provisions -new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - notification provisions)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - one time burden of making & preserving records)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file annual reports - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file annual reports)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file monthly reports - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file monthly reports)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file quarterly reports - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file quarterly reports)
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
1,249
1,093
0
156
0
0
Annual Time Burden (Hours)
55,179
58,925
0
-3,746
0
0
Annual Cost Burden (Dollars)
160,000
160,000
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:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
The changes in burden occurred due to changes in the estimates of broker-dealers the Commission expects to become ANC firms, as well as 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 15c3-1 strengthen broker-dealer capital requirements by, among other things, enhancing requirements relating to temporary capital contributions and requiring insolvent broker-dealers to cease conducting a securities business.
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:
09/12/2013
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