View Information Collection Request (ICR) Package
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Burden
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Common Form Info.
Certification
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View Supporting Statement and Other Documents
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:
3235-0123
ICR Reference No:
201606-3235-015
Status:
Historical Inactive
Previous ICR Reference No:
201405-3235-005
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-155
Title:
Rule 17a-5, Form X-17A-5 (FOCUS REPORT)
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:
08/04/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/01/2016
Terms of Clearance:
Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR. The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2017
36 Months From Approved
08/31/2017
Responses
41,543
0
41,543
Time Burden (Hours)
385,140
0
385,140
Cost Burden (Dollars)
57,051,000
0
57,051,000
Abstract:
Section 17(a)(1) of the Securities Exchange Act of 1934 ("Exchange Act") provides that broker-dealers must make and keep records, furnish copies of the records, and make and disseminate reports as the Securities and Exchange Commission ("Commission"), by rule, prescribes. Section 17(e)(1)(A) of the Exchange Act requires every broker-dealer registered with the Commission to annually file with the Commission: a balance sheet and income statement "certified by an independent public accounting firm, or by a registered public accounting firm if the firm is required to be registered under the Sarbanes-Oxley Act of 2002" and such other financial statements (which shall, as the Commission specifies, be certified) and information concerning its financial condition as the Commission, by rule, may prescribe. A registered public accounting firm means a public accounting firm registered with the Public Company Accounting Oversight Board ("PCAOB"). Section 17(e)(2) provides that the Commission, by rule, may prescribe the form and content of the financial statements and the accounting principles and standards used in their preparation.
Authorizing Statute(s):
PL:
Pub.L. 111 - 203 764
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code:
15 USC 78q
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL45
Proposed rulemaking
79 FR 25193
05/02/2014
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
18
IC Title
Form No.
Form Name
Annual audited reports
SEC1410
Focus Report Part III
Form SBS for ANC Broker-Dealers
Focus Report - Form SBS
Focus Report - Form SBS
Form SBS for Broker-Dealer MSBSPs: Amendment to Paragraph (a)(1)(iv)
Focus Report - Form SBS
Focus Report - Form SBS
Form SBS for Broker-Dealer SBSDs: Amendment to Paragraph (a)(1)(iv)
Focus Report - Form SBS
Focus Report - Form SBS
Liquidity Stress Test for ANC Broker-Dealers
Rule 17a-5(d)(1)(ii): Change of Fiscal Year End
Rule 17a-5(d)(3): Compliance Report
Rule 17a-5(d)(4): Exemption Report
Rule 17a-5(d)(6): Annual Audit Reports with SIPC
Rule 17a-5(e)(4): Annual General Assessment Reconciliation or Exclusion from Membership Form
Rule 17a-5(f)(2): Statement Regarding Independent Public Accountant - Carrying or Clearing BD
Rule 17a-5(f)(2): Statement Regarding Independent Public Accountant - Non-Carrying or Non-Clearing BD
Rule 17a-5(f)(3): Statement Regarding Change in Independent Public Accountant
Rule 17a-5(k): Supplemental Reports - Appendix E - Additional Annual Reports
Rule 17a-5(k): Supplemental Reports - Appendix E - Additional Monthly Reports
Rule 17a-5(k): Supplemental Reports - Appendix E - Additional Quarterly Reports
Rule 17a-5: Annual Audited Reports
Focus Report - Part III, Focus Report - Schedule I
Form X-17A-5 - Focus Report Part III
,
Form X-17A-5 - Focus Report Schedule I
Rule 17a-5: FOCUS Reports - Monthly Reports
Focus Report Part I, Focus Report Part II
Form X-17A-5 - Focus Report Part I
,
Form X-17A-5 - Focus Report Part II
Rule 17a-5: FOCUS Reports - Quarterly Reports
Focus Report - Part IIA
Form X-17A-5 - Focus Report Part I
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 annual ongoing hour burden of 393,572 hours reflects a 8,432 hour increase from the current OMB inventory of 385,140 hours. This change incorporates a decrease in the number of respondents, and an increase in the number of hours attributable to the proposed amendments to Rule 17a-5 described in the SBS Recordkeeping Release. The annual cost burden of $43,476,000 is $13,575,000 lower than the current OMB inventory of $57,051,000. This decreased cost estimate reflects a decrease in the number of carrying broker-dealers, from 292 to 203 carrying broker-dealers, and a decrease in the number of non-carrying broker-dealers from 4,417 to 4,342.
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]?
Yes
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:
Valentina Deng 202 551-5778
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:
07/01/2016
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