Rule 15c3-1; Net Capital Requirements for Brokers and Dealers

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Rule_15c3-1_Supporting_Statement_Version_E[1].pdf	Supporting Statement A	Uploaded 2013-09-12	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
42976	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers		Modified
208585	Rule 15c3-1 -- Net Capital Requirements for Brokers or Dealers (2013 amendments - permission to withdraw capital)		New
208584	Rule 15c3-1 -- Net Capital Requirements for Brokers or Dealers (2013 amendments - updating standard stock loan agreement)		New
207432	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix C) - Opinion of Counsel		Modified
206989	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update risk management control system - new firms)		Modified
206988	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update risk management control system)		Modified
206987	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - notification provisions -new firms)		Modified
206986	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - notification provisions)		Modified
206985	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - annual burden of making & preserving records - new firms)		Modified
206984	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - annual burden of making & preserving records)		Modified
206983	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - one time burden of making & preserving records)		Modified
206981	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file annual reports - new firms)		Modified
206980	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file quarterly reports - new firms)		Modified
206979	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file monthly reports - new firms)		Modified
206978	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file annual reports)		Modified
206977	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file quarterly reports)		Modified
206976	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file monthly reports)		Modified
206975	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - backtesting - new firms)		Modified
206974	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update models - new firms)		Modified
190804	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - backtesting)		Modified
190803	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update models)		Modified
190802	Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E - one-time burden for new firms)		Modified

ICR Details

OMB Control No: 3235-0200	ICR Reference No: 201309-3235-008
Status: Historical Active	Previous ICR Reference No: 201305-3235-009
Agency/Subagency: SEC	Agency Tracking No: TM-270-197
Title: Rule 15c3-1; Net Capital Requirements for Brokers and Dealers
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: 10/28/2013
	Date Received in OIRA: 09/12/2013
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2016	36 Months From Approved	08/31/2016
Responses	1,249	0	1,093
Time Burden (Hours)	55,179	0	58,925
Cost Burden (Dollars)	160,000	0	160,000

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Abstract: Rule 15c3-1 was adopted in 1971 to ensure that brokers and dealers maintain sufficient liquid assets in excess of liabilities to promptly satisfy the claims of customers in the event the broker or dealer fails.

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Authorizing Statute(s): US Code: 15 USC 78b, 78c, 78o, 78o-4, 78q, 78w Name of Law: Sections 2, 3, 15, 15B, 17 and 23 of the 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:
3235-AJ85	Final or interim final rulemaking	78 FR 51824	08/21/2013

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 22

table that charts list of burden

IC Title	Form No.	Form Name
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file monthly reports - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file quarterly reports - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file annual reports - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - annual burden of making & preserving records)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - annual burden of making & preserving records - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - notification provisions)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - notification provisions -new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update risk management control system)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update risk management control system - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - one time burden of making & preserving records)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - backtesting)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E - one-time burden for new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update models)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix C) - Opinion of Counsel
Rule 15c3-1 -- Net Capital Requirements for Brokers or Dealers (2013 amendments - updating standard stock loan agreement)
Rule 15c3-1 -- Net Capital Requirements for Brokers or Dealers (2013 amendments - permission to withdraw capital)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - review and update models - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix E & G - backtesting - new firms)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file monthly reports)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file quarterly reports)
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers (Appendix G - prepare & file annual reports)

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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	1,249	1,093	0	156	0	0
Annual Time Burden (Hours)	55,179	58,925	0	-3,746	0	0
Annual Cost Burden (Dollars)	160,000	160,000	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The changes in burden occurred due to changes in the estimates of broker-dealers the Commission expects to become ANC firms, as well as the adoption of the July 30, 2013 amendments to the broker-dealer financial responsibility rules (Financial Responsibility Rules for Broker-Dealers, Securities Exchange Act Release No. 70072 (July 30, 2013), 78 FR 51824 (Aug. 21, 2013)), which address several areas of concern regarding these rules. Specifically, the amendments to Rule 15c3-1 strengthen broker-dealer capital requirements by, among other things, enhancing requirements relating to temporary capital contributions and requiring insolvent broker-dealers to cease conducting a securities business.

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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: 09/12/2013

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