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.
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.
$0
No
No
No
No
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.
Rule_15c3-1_Supporting_Statement_Version_E[1].pdf
Rule 15c3-1; Net Capital Requirements for Brokers and Dealers