Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Supporting Statement 17a-3 - Final - 3-15-16.docx	Supporting Statement A	Uploaded 2016-03-16	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34094	Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers		Modified
209188	Rule 17a-3(a)(16)		Modified
208461	Rule 17a-3(a)(23) Part II		Removed
208460	Broker-dealer SBSDs only: Amendments to paragraphs (a)(26), (a)(27), and (a)(29)		Modified
208459	Broker-dealer SBSDs and broker-dealer MSBSPs: Amendments to paragraphs (a)(25), (a)(28), and (a)(30)		Modified
208456	ANC broker-dealers: Amendment to paragraph (a)(24)		Modified
208455	Security-based swap activities: Amendments to paragraphs (a)(1), (a)(3), (a)(5), (a)(6), (a)(7), (a)(8), and (a)(9)		Modified

ICR Details

OMB Control No: 3235-0033	ICR Reference No: 201603-3235-004
Status: Historical Inactive	Previous ICR Reference No: 201311-3235-002
Agency/Subagency: SEC	Agency Tracking No: TM-270-026
Title: Rule 17a-3; Records to be Made by Certain Exchange Members, 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: Comment filed on proposed rule and continue	Conclusion Date: 05/10/2016
	Date Received in OIRA: 03/17/2016
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden. This action has no effect on any current approvals.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2016	36 Months From Approved	10/31/2016
Responses	19,940	0	19,940
Time Burden (Hours)	2,734,092	0	2,734,092
Cost Burden (Dollars)	16,977,793	0	16,977,793

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Abstract: Rule 17a-3 requires certain records to be made by certain exchange members and registered brokers and dealers. The rule serves to standardize prudent business practices. Among other things, these records are essential for regulatory purposes including examinations, investigations, and enforcement proceedings, which are significant customer protection safeguards. The proposed amendments to Rule 17a-3 (in conjunction with the proposed amendments to Rule 17a-4) would establish additional recordkeeping requirements applicable to broker-dealers, including those that are dually registered as an SBSD or MSBSP, to the extent they engage in security-based swap or swap activities.

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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.
   PL: Pub.L. 111 - 203 764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: US Code: 15 USC 78o-10 Name of Law: Securities Exchange Act of 1934

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL45	Proposed rulemaking	79 FR 25193	05/02/2014

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

table that charts list of burden

IC Title	Form No.	Form Name
Rule 17a-3(a)(23) Part II
Rule 17a-3(a)(16)
Broker-dealer SBSDs only: Amendments to paragraphs (a)(26), (a)(27), and (a)(29)
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers
Security-based swap activities: Amendments to paragraphs (a)(1), (a)(3), (a)(5), (a)(6), (a)(7), (a)(8), and (a)(9)
ANC broker-dealers: Amendment to paragraph (a)(24)
Broker-dealer SBSDs and broker-dealer MSBSPs: Amendments to paragraphs (a)(25), (a)(28), and (a)(30)

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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 annual ongoing hour burden of 2,645,786 hours reflects a 88,306 hour decrease over the current OMB inventory of 2,734,092 hours. This change incorporates a decrease of 164 in the number of respondents, from 4,709 to 4,545, an increase in the number of estimated internal broker-dealer systems from 130 to 150, and an additional 5,636 hours attributable to the amendments to Rule 17a-3 described in the SBS Recordkeeping Release. The annual cost burden of $16,384,725 is $593,068 lower than the current OMB inventory of $16,977,793. This decreased cost estimate reflects a decrease of 164 in the number of respondents.

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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: 03/17/2016

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