View Information Collection Request (ICR) Package
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Brief and OIRA conclusion
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Burden
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Common Form Info.
Certification
View Information Collection (IC) List
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:
202107-3235-022
Status:
Historical Active
Previous ICR Reference No:
202005-3235-021
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:
Approved without change
Conclusion Date:
10/01/2021
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/30/2021
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2023
10/31/2023
10/31/2023
Responses
36,557
0
36,515
Time Burden (Hours)
336,034
0
328,748
Cost Burden (Dollars)
35,287,129
0
35,287,129
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. Partial Revision-- the Commission is revising this collection of information in connection with a 2019 rulemaking that amended several Commission rules. Although the amendments were adopted in 2019, they are not required to be complied with until October 6, 2021. The amendments, which established recordkeeping requirements for broker-dealers' security-based swap activities, resulted in new estimates to this collection of information. The proposed revisions were submitted to OMB in 2016 (see ICR Ref. No. 201606-3235-015), and this submission is for the final revisions.
Authorizing Statute(s):
US Code:
15 USC 78a
Name of Law: Securities Exchange Act of 1934
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL45
Final or interim final rulemaking
84 FR 68550
12/16/2019
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
IC 3 - Appendix E additional monthly reports
IC1 - Monthly Reports
SEC 1695
Focus Report Part II
IC10 - Change in Fiscal Year End
IC11 - SIPC Annual Assessment Reconciliation Form or Certification of Exclusion from Membership Form
IC12 - Statement Regarding Independent Public Accountant
IC13 - Statement Regarding Independent Public Accountant (Non-carrying/Non-clearing)
IC14 - Statement Regarding Change of Independent Public Accountant
IC2 - Rule 17a-5; Quarterly reports to be made by certain brokers and dealers
SEC 1696
Focus Report Part !!A
IC4 - Appendix E additional quarterly reports
IC5 - Appendix E additional annual reports
IC6 - Annual audited reports
SEC 1410
Focus Report Part III
IC7 - Compliance Report Requirement
IC8 - Exemption Report Requirement
IC9 - SIPC Audited Reports
NEW: IC 15 FOCUS Report Part II: Non-Model Broker-Dealer SBSDs
NEW: IC 16 FOCUS Report Part II: Non-Model Broker-Dealer MSBSPs
NEW: IC 17 FOCUS Report Part II: ANC Broker-Dealer SBSDs
NEW: IC 18 FOCUS Report Part II: Non-Model Stand-alone Broker-Dealers with SBS Activities
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
36,557
36,515
0
42
0
0
Annual Time Burden (Hours)
336,034
328,748
0
7,286
0
0
Annual Cost Burden (Dollars)
35,287,129
35,287,129
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 Commission is adding new burdens to this collection of information as a result of the 2019 amendments to Rule 17a-5 and Form X-17A-5. They have been added at the end of the IC list and are marked NEW. They are also included in a separate chart in the Supporting Statement, in order to distinguish them from the existing burdens in this collection of information, which have not been changed.
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:
Abraham Jacob 202 551-5583
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:
07/30/2021
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