Rule 17a-5, Form X-17A-5 (FOCUS REPORT)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC1696 Rule 17a-5; Quarterly reports to be made by certain brokers and dealers	Form	Unchanged	Repair queued
Form SEC1410 Annual audited reports	Form	Unchanged	Repair queued
Form SEC1410 Annual Reports	Form	Unchanged	Available
Form SEC1695 Monthly Reports	Form	Unchanged	Repair queued
PRA 17a-5 Supporting Statement B-D Custody Adopting Version C.doc	Supporting Statement A	Uploaded 2013-12-18	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
42969	Rule 17a-5; Quarterly reports to be made by certain brokers and dealers	Form	Unchanged
209698	17a-5(f)(2) 2		New
209697	17a-5(f)(2)		New
209695	17a-5(d)(1)(ii)		New
209694	SIPC Audited Reports		New
209693	Exemption Report Requirement		New
209692	Compliance Report Requirement		New
205674	Annual audited reports	Form	Unchanged
205673	Appendix E additional quarterly reports		Unchanged
205672	Appendix E additional annual reports		Unchanged
205506	Appendix E additional monthly reports		Unchanged
205504	Annual Reports	Form	Unchanged
205430	Monthly Reports	Form	Unchanged

ICR Details

OMB Control No: 3235-0123	ICR Reference No: 201312-3235-006
Status: Historical Active	Previous ICR Reference No: 201301-3235-006
Agency/Subagency: SEC	Agency Tracking No: TM-270-155
Title: Rule 17a-5, Form X-17A-5 (FOCUS REPORT)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 01/31/2014
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/24/2014
	Date Received in OIRA: 12/20/2013
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2014	6 Months From Approved	06/30/2016
Responses	41,543	0	27,558
Time Burden (Hours)	385,140	0	329,940
Cost Burden (Dollars)	57,051,000	0	0

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Abstract: Section 17(a)(1) of the Securities Exchange Act of 1934 ("Exchange Act") provides that broker-dealers must make and keep records, furnish copies of the records, and make and disseminate reports as the Securities and Exchange Commission ("Commission"), by rule, prescribes. Section 17(e)(1)(A) of the Exchange Act requires every broker-dealer registered with the Commission to annually file with the Commission: a balance sheet and income statement "certified by an independent public accounting firm, or by a registered public accounting firm if the firm is required to be registered under the Sarbanes-Oxley Act of 2002" and such other financial statements (which shall, as the Commission specifies, be certified) and information concerning its financial condition as the Commission, by rule, may prescribe. A registered public accounting firm means a public accounting firm registered with the Public Company Accounting Oversight Board ("PCAOB"). Section 17(e)(2) provides that the Commission, by rule, may prescribe the form and content of the financial statements and the accounting principles and standards used in their preparation.

Emergency Justfication: We request that this final rule submission be approved by January 2014, since we will have to resubmit another ICR Extention right after this ICR is approved. Based on OIRA's new electronic submission rule within the web tool utlized to submit agency documentation, ICR 201111-3235-034, the proposed rule ICR from 2011 that was reviewed by OIRA, is unable to be mapped to final rule 201312-3235-006. The agency is in full compliance, but due to the new IT applicaiton's rule change, we are unable to submit the final rule package to OIRA and obtain a normal three year approval. All public comments have been addressed in this ICR.

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Authorizing Statute(s): US Code: 15 USC 78a 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:
3235-AK56	Final or interim final rulemaking	78 FR 51910	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: 13

table that charts list of burden

IC Title	Form No.	Form Name
Appendix E additional annual reports
Appendix E additional quarterly reports
17a-5(f)(2) 2
Annual audited reports	SEC1410	Focus Report Part III
Rule 17a-5; Quarterly reports to be made by certain brokers and dealers	SEC1696	Focus Report Part IIA
Monthly Reports	SEC1695	Focus Report Part II
Appendix E additional monthly reports
Annual Reports	SEC1410	Focus Report Part III
Compliance Report Requirement
Exemption Report Requirement
SIPC Audited Reports
17a-5(d)(1)(ii)
17a-5(f)(2)

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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	41,543	27,558	0	13,985	0	0
Annual Time Burden (Hours)	385,140	329,940	0	55,200	0	0
Annual Cost Burden (Dollars)	57,051,000	0	0	57,051,000	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: No

Burden Reduction Due to:

Short Statement: The increase in burden occurred due to the July 30, 2013 amendments to the broker-dealer reporting rule (Broker-Dealer Reports, Securities Exchange Act Release No. 70073 (July 30, 2013), 78 FR 51909 (Aug. 21, 2013)), which addresses several areas of concern regarding Rule 17a-5. Specifically, the amendments to Rule 17a-5 require broker-dealers to file either a compliance report or an exemption that are prepared by the broker-dealer, as well as certain reports that are prepared by the independent public accountant covering the financial report and the compliance report or the exemption report. A broker-dealer must also engage an independent public accountant to prepare a report based on an examination of the broker-dealer's financial report and either an examination of certain statements in the broker-dealer's compliance report or a review of the broker-dealer's exemption report. The amendments also require a broker-dealer to file a copy of its annual reports with SIPC. Additionally, a carrying broker-dealer is now required to make new representations in its notice designating its independent public accountant regarding access to accountant and audit documentation.

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Annual Cost to Federal Government: $33,225

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: 12/20/2013

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