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

Forms and Documents

Document	Type	Status	Availability
2011 Rule 15c3-3 Supporting Statement 15Feb2011.doc	Supporting Statement A	Uploaded 2011-02-15	Available

IC Document Collections

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: 201102-3235-008
Status: Historical Active	Previous ICR Reference No: 200709-3235-018
Agency/Subagency: SEC	Agency Tracking No: TM-270-087
Title: Customer Protection - Reserves and Custody of Securities (17 CFR 240.15c3-3)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 03/30/2011
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/16/2011
	Date Received in OIRA: 02/15/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2011	6 Months From Approved	03/31/2011
Responses	279	0	344
Time Burden (Hours)	65,091	0	77,166
Cost Burden (Dollars)	507,492	0	447,148

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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.

Emergency Justfication: This rule was intended to be revised, and accordingly a pre-approval for the revision was received in January. However, a decision was made that the revised rule will not be finalized, and the current OMB approval will expire 3/31/11. We are requesting an emergency extension of the existing active ICR so that we will be able to have time to publish the 30 day Federal Register notice scheduled for mid-March. The 60 day Federal Register notice was published. To date, we have not received any public comments on this collection.

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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:
	76 FR 2153	01/12/2011
Did the Agency receive public comments on this ICR? No

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

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

	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	279	344	0	0	-65	0
Annual Time Burden (Hours)	65,091	77,166	0	0	-12,075	0
Annual Cost Burden (Dollars)	507,492	447,148	0	0	60,344	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: No

Burden Reduction Due to:

Short Statement: The change in burden hours is due to a decrease in the number of broker-dealers; a decrease in the number of accounts of broker-dealers subject to paragraph (o) of Rule 15c3-3; and a decrease in the number of notices filed each year. The change in burden cost is due to the increased cost estimate for printing and mailing related to security futures product accounts subject to paragraph (o) of Rule 15c3-3.

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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]? 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? 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: 02/15/2011

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