Regulation BI- Best Interest

Forms and Documents

Document Name	Status
Reg BI PRA Supporting Statement.pdf Supporting Statement A	2018-06-15

IC Document Collections

IC ID	Document Title	Status
231772	Training-- Implement Training (All Broker-Dealers)	New
231771	Training-- Develop Module (All Broker-Dealers)	New
231770	Identification of Material Conflicts of Interests (All Broker-Dealers)	New
231769	Written Policies and Procedures (Large Broker-Dealers)	New
231767	Written Policies and Procedures (Small Broker-Dealers)	New
231766	Disclosure of Material Conflicts of Interest (All Broker-Dealers, Delivery of the Updated Conflict Disclosure Document)	New
231765	Disclosure of Material Conflicts of Interest (All Broker-Dealers, Delivery of Standard Conflict Disclosure Document)	New
231764	Disclosure of Material Conflicts of Interest (Large, Standalone Broker-Dealers)	New
231763	Disclosure of Material Conflicts of Interest (Small, Standalone Broker-Dealers)	New
231762	Disclosure of Fees (All Broker-Dealers, Delivery of Amended Fee Schedule)	New
231761	Disclosure of Fees (All Broker-Dealers, Initial Delivery of the Fee Schedule)	New
231760	Disclosure of Fees (Large, Standalone Broker-Dealers)	New
231759	Disclosure of Fees (Small, Standalone Broker-Dealers)	New
231758	Disclosure of Capacity, Type and Scope of Services (All Broker-Dealers, Delivery of Amended Account Agreements)	New
231716	Disclosure of Capacity, Type, and Scope of Services (All Broker-Dealers, Delivery of the Account Disclosure Document)	New
231713	Disclosure of Capacity, Type, and Scope of Services (Large, Standalone Broker-Dealers)	New
231712	Disclosure of Capacity, Type, and Scope of Services (Small, Standalone Broker-Dealers)	New
231698	Disclosure of Capacity, Type, and Scope of Services (Dually-Registered BD/IAs)	New

ICR Details

OMB Control No: 3235-0762	ICR Reference No: 201804-3235-020
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No: TM-270-808
Title: Regulation BI- Best Interest
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 09/13/2018
	Date Received in OIRA: 06/15/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: We are proposing a new rule under the Securities Exchange Act of 1934 (“Exchange Act”) establishing a standard of conduct for broker-dealers and natural persons who are associated persons of a broker-dealer when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer.

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Authorizing Statute(s): US Code: 15 USC 78(o) Name of Law: Securities Exchange Act of 1934
   PL: Pub.L. 111 - 203 913(f) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM35	Proposed rulemaking	83 FR 21574	05/09/2018

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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: 18

IC Title	Form No.	Form Name
Disclosure of Capacity, Type, and Scope of Services (Large, Standalone Broker-Dealers)
Disclosure of Capacity, Type, and Scope of Services (All Broker-Dealers, Delivery of the Account Disclosure Document)
Disclosure of Fees (Small, Standalone Broker-Dealers)
Disclosure of Fees (Large, Standalone Broker-Dealers)
Disclosure of Material Conflicts of Interest (All Broker-Dealers, Delivery of Standard Conflict Disclosure Document)
Disclosure of Fees (All Broker-Dealers, Initial Delivery of the Fee Schedule)
Disclosure of Fees (All Broker-Dealers, Delivery of Amended Fee Schedule)
Disclosure of Material Conflicts of Interest (Small, Standalone Broker-Dealers)
Identification of Material Conflicts of Interests (All Broker-Dealers)
Training-- Implement Training (All Broker-Dealers)
Disclosure of Material Conflicts of Interest (Large, Standalone Broker-Dealers)
Written Policies and Procedures (Large Broker-Dealers)
Training-- Develop Module (All Broker-Dealers)
Disclosure of Material Conflicts of Interest (All Broker-Dealers, Delivery of the Updated Conflict Disclosure Document)
Written Policies and Procedures (Small Broker-Dealers)
Disclosure of Capacity, Type and Scope of Services (All Broker-Dealers, Delivery of Amended Account Agreements)
Disclosure of Capacity, Type, and Scope of Services (Dually-Registered BD/IAs)
Disclosure of Capacity, Type, and Scope of Services (Small, Standalone Broker-Dealers)

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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 burden increase would be due to proposed new regulations that would establish a standard of conduct for broker-dealers (and natural persons who are associated persons of a broker-dealer) when they make a recommendation of any securities transaction or investment strategy involving securities to a retail customer.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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]? Yes

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: 06/15/2018

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