Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Rule 15c3-3 Supporting Statement.doc	Supporting Statement A	Uploaded 2007-11-28	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34302	Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)		Modified

ICR Details

OMB Control No: 3235-0078	ICR Reference No: 200709-3235-018
Status: Historical Active	Previous ICR Reference No: 200410-3235-009
Agency/Subagency: SEC	Agency Tracking No: 270-087
Title: Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)
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: 03/28/2008
	Date Received in OIRA: 11/28/2007
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2011	36 Months From Approved	03/31/2008
Responses	344	0	15,984
Time Burden (Hours)	77,166	0	118,551
Cost Burden (Dollars)	447,148	0	1,070,000

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Abstract: Rule 15c3-3 provides for the protection of customer funds and securities in the custody of a broker-dealer. The Rule sets forth standards for (i) a broker-dealer's acceptance, custody, and use of customer securities, and (ii) the maintenance of reserves with respect to customer deposits and monies obtained from the use of customer securities. The Commission is adopting new requirements designed to eliminate conflicting and duplicative customer protection, recordkeeping, and reporting regulations applicable to security futures products.

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Authorizing Statute(s): US Code: 15 USC 78q, 78w, 78mm, 80a-30(a), 80a Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 53609	09/19/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 67325	11/28/2007
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)

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ICR Summary of Burden

table that charts list 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	344	15,984	0	-15,640	0	0
Annual Time Burden (Hours)	77,166	118,551	0	-41,385	0	0
Annual Cost Burden (Dollars)	447,148	1,070,000	0	-622,852	0	0

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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: a. Burdens The annual record-keeping hour burden of 77,166 hours listed on OMB Form 83-I reflects a 41,385 decrease from the current OMB inventory of 118,551 hours. This change is due to a decrease in the number of broker-dealers and a decrease in the number of accounts of broker-dealers subject to paragraph (o) of Rule 15c3-3, but is partially offset by an increase in the number of notices filed each year. Due to the fact that the calculation of burden hours is based on a number of factors (e.g., some respondents must make weekly calculations and others make monthly calculations, and certain of the burden hours are based on the number of accounts held by a distinct few of those respondents) for purposes of the Form 83-I, the staff has divided the total number of annual burden hours (77,166) by the number of respondents (344) to reach a number of hours per respondent (224.32). This was broken down by “reporting” (relating to the notices filed with the Commission) and “recordkeeping” (all other requirements described above). Reporting of 33 total hours divided by 334 equals approximately .09 hours per respondent, and 224.32 - .09 = 224.23. b. Costs The annual reporting and record-keeping cost burden of $447,150 each year as listed on OMB Form 83-I is $622,850 less than the current OMB inventory of $1,070,000. This decrease is due to the decrease in the number of accounts held by broker-dealers subject to paragraph (o) of Rule 15c3-3. Due to the fact that the calculation of costs is based on a number of factors that are not directly related to the calculation of burden hours above, for purposes of the Form 83-I, the staff has divided the total costs ($447,150) by the number of respondents (344) to reach a number of cost per respondent ($1,299.85). All of those costs related to reporting of information to customers.

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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]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 11/28/2007

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