Rule 10b-10 Confirmation of Securities Transactions (17 C.F.R. 240.10b-10)

ICR 201304-3235-005

OMB: 3235-0444

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2013-07-01
ICR Details
3235-0444 201304-3235-005
Historical Active 201009-3235-001
SEC TM-270-389
Rule 10b-10 Confirmation of Securities Transactions (17 C.F.R. 240.10b-10)
Extension without change of a currently approved collection   No
Regular
Approved without change 08/19/2013
Retrieve Notice of Action (NOA) 07/01/2013
  Inventory as of this Action Requested Previously Approved
08/31/2016 36 Months From Approved 08/31/2013
16,800,000,005 0 16,800,000,005
140,000,000 0 140,000,000
8,190,000,004 0 8,190,000,004

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.

US Code: 15 USC 78a Name of Law: Securities and Exchange Act of 1934
  
None

Not associated with rulemaking

  78 FR 23962 04/23/2013
78 FR 39023 06/28/2013
No

  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 16,800,000,005 16,800,000,005 0 0 0 0
Annual Time Burden (Hours) 140,000,000 140,000,000 0 0 0 0
Annual Cost Burden (Dollars) 8,190,000,004 8,190,000,004 0 0 0 0
No
No

$20,000
No
No
No
No
No
Uncollected
Brice Prince 202 551-5595

  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.
07/01/2013


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