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OMB Control No: 3235-0444	ICR Reference No: 202211-3235-009
Status: Active	Previous ICR Reference No: 201906-3235-016
Agency/Subagency: SEC	Agency Tracking No: TM-270-389
Title: Rule 10b-10 Confirmation of Securities Transactions (17 C.F.R. 240.10b-10)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/26/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/24/2023
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2026	36 Months From Approved	04/30/2023
Responses	54,302,777,021	0	37,687,249,686
Time Burden (Hours)	226,261,571	0	157,030,207
Cost Burden (Dollars)	15,625,624,088	0	10,288,619,164

Abstract: Rule 10b-10 under the Securities Exchange Act of 1934 ("Exchange Act") requires broker-dealers to disclose basic trade information to customers regarding their securities transactions. The information required by Rule 10b-10 includes: the date and time of the transaction, the identity and number of shares bought or sold, and the trading capacity of the broker-dealer. In addition, depending on the trading capacity of the broker-dealer, the Rule requires the disclosure of commissions and, under specified circumstances, mark-up and mark-down information. For transactions in debt securities (other than U.S. savings bonds and municipal securities) the Rule requires the disclosure of redemption and yield information. For transactions in securities futures products in a futures account, the Rule permits alternative information disclosure requirements. This alternative information includes, the date the transaction was executed; the identity and number of shares bought or sold; the price, the delivery month, and the exchange on which the transaction was executed; the source and amount of broker remuneration; whether the broker received payment for order flow; and, the fact that other specified information about the execution of the transaction will be available upon written request. Rule 10b-10 also requires broker-dealers to inform their customers if they are not members of the Securities Investor Protection Corporation ("SIPC"). The purpose of this disclosure is to ensure that customers are not led to believe that their accounts are subject to SIPC protection when they are not. In addition, the Rule requires broker-dealers to state on confirmations whether they receive payment for order flow. The confirmation has become a customary tool in the industry, and it serves several functions: firms use it as a billing statement; it serves as a customer invoice; it informs investors of the details of a transaction allowing the customer to check for errors or misunderstandings; it provides consumer information, allowing investors to evaluate the cost and quality of the services provided by broker-dealers; it discloses possible conflict of interest that may arise between the investor and broker-dealer; and it safeguards against fraud, by permitting the customer to detect problems associated with a transaction.

Authorizing Statute(s): US Code: 15 USC 78a Name of Law: Securities and Exchange Act of 1934

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 69380	11/19/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 4262	01/24/2023
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	54,302,777,021	37,687,249,686	16,615,527,335
Annual Time Burden (Hours)	226,261,571	157,030,207	69,231,364
Annual Cost Burden (Dollars)	15,625,624,088	10,288,619,164	5,337,004,924

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 estimated total annual hour burden associated with Rule 10b-10 increased from 157,030,207 hours to 226,261,571 hours because, while the estimated time per response remained 30 seconds (or 0.5 minutes) per response, the estimated total number of responses per year increased by approximately 8,307,763,667, from 18,843,624,843 to 27,151,388,510. The estimated total annual cost burden to respondents associated with generating and delivering to investors the information required under Rule 10b-10 increased from $10,288,619,164 to $15,625,624,088. This increase is attributable to an increase in the cost of mailing paper confirmations to customers, an increase in the estimated number of paper confirmations mailed to customers each year, an increase in the cost of sending electronic confirmations to customers, and an increase in the estimated number of electronic confirmations sent to customers each year.

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: Jane Wetterau 202 551-4483

View ICR - OIRA Conclusion