Pursuant to 5
CFR 1320.11(c), OMB files this comment on this information
collection request (ICR). In accordance with 5 CFR 1320, OMB is
withholding approval at this time. The agency shall examine public
comment in response to the NPRM and will include in the supporting
statement of the next ICR--to be submitted to OMB at the final rule
stage--a description of how the agency has responded to any public
comments on the ICR, including comments on maximizing the practical
utility of the collection and minimizing the burden.
Inventory as of this Action
Requested
Previously Approved
03/31/2011
36 Months From Approved
03/31/2011
344
0
344
77,166
0
77,166
447,148
0
447,148
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. Rule 15c3-3 also contains requirements for
broker-dealers that holds securities futures products for
customers.
The changes in the reporting
burden are a result of the proposed amendments to Rule 15c3-3 as
discussed in the 2007 proposing release. Under the 2007 proposing
release, the proposed amendments to Rule 15c3-3 would require a
broker-dealer to perform a PAB reserve computation and obtain
certain agreements and notices related to proprietary account of
another broker-dealer (referred to as PAB accounts) and,
therefore, would impose recordkeeping burdens on a broker-dealer to
the extent it: (1) has to perform a PAB computation; (2) chooses to
use PAB securities and, therefore, needs to obtain agreements from
PAB accountholders; and (3) opens a PAB reserve account at a new
bank. These proposed amendments to Rule 15c3-3 would add 29,080
(26,830 + 2,250) one-time burden hours to this collection of
information, as well as increase the annual hour burden by 9,350
hours. In addition, the amendment to Rule 15c3-3 to add new
paragraph (j) would apply to broker-dealers who choose to provide
existing and new customers with the required disclosures in order
to have the ability to change how their customers free credit
balances are treated.
$1,050
No
No
No
Uncollected
No
Uncollected
Sheila Swartz 202
551-5545
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:
(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;
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.
2010 Onnig Rule 15c3-3 Supporting Statmentrev .doc
Rule 15c3-3:Customer Protection - Reserves and Custody of Securities