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
PRA Supporting Statement (17a-3).pdf	Supporting Statement A	Uploaded 2018-06-15	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		Unchanged
231807	Rule 17a-3(25) All BDs, Completing the Account Disclosure Document in the Context of Regulation Best Interest		New
231796	Rule 17a-3(25) Small BD, Record of Associated Person in the Context of Regulation Best Interest		New
231789	Rule 17a-3(25) Large BD, Record of Associated Person in the Context of Regulation Best Interest		New
231788	Rule 17a-3(24), Record of Relationship Summary in the Context of Rule 17a-14 and Form CRS		New
222972	Ongoing cost for equipment & systems development		Unchanged
222971	Rule 17a-3(a)(17) - providing updated information to customers		Unchanged
222969	Rule 17a-3(a)(17)(i)(B(2) + (3) - Small BD		Unchanged
222968	Rule 17a-3(a)(17)(i)(B)(2) + (3) - Large BD		Unchanged
222967	Rule 17a-3(a)(17)(i)(B(1) - Small BD		Unchanged
209188	Rule 17a-3(a)(16)		Unchanged
208461	Rule 17a-3(a)(23) Part II		Unchanged
208460	Rule 17a-3(a)(23) Part I		Unchanged
208459	Rule 17a-3(a)(17)(i)(B)(1) - Large BD		Unchanged
208456	Rule 17a-3(a)(20-22)		Unchanged
208455	Rule 17a-3(a)(12, 19)		Unchanged

ICR Details

OMB Control No: 3235-0033	ICR Reference No: 201806-3235-010
Status: Historical Inactive	Previous ICR Reference No: 201703-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM-240-026
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: 09/13/2018
	Date Received in OIRA: 06/15/2018
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2019	36 Months From Approved	10/31/2019
Responses	82,299,904	0	82,299,904
Time Burden (Hours)	2,763,612	0	2,763,612
Cost Burden (Dollars)	44,562,361	0	44,562,361

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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. In connection with proposed new Rule 17a-14 and Form CRS, and proposed Regulation Best Interest, the Commission is proposing to amend Rule 17a-3 by adding new paragraphs (a)(24) and (a)(25). To aggregate the entire burden of Rule 17a-3 into one information collection (and existing OMB control number), the Commission is adding the annual burden hours for new paragraphs (a)(24) and (a)(25) of Rule 17a-3 into this information collection.

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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-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: 16

table that charts list of burden

IC Title	Form No.	Form Name
Rule 17a-3(a)(17)(i)(B(1) - Small BD
Rule 17a-3(a)(17)(i)(B)(2) + (3) - Large BD
Rule 17a-3(a)(17)(i)(B(2) + (3) - Small BD
Rule 17a-3(a)(17) - providing updated information to customers
Ongoing cost for equipment & systems development
Rule 17a-3(a)(16)
Rule 17a-3(a)(23) Part I
Rule 17a-3(a)(23) Part II
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers
Rule 17a-3(a)(12, 19)
Rule 17a-3(a)(20-22)
Rule 17a-3(a)(17)(i)(B)(1) - Large BD
Rule 17a-3(25) All BDs, Completing the Account Disclosure Document in the Context of Regulation Best Interest
Rule 17a-3(25) Small BD, Record of Associated Person in the Context of Regulation Best Interest
Rule 17a-3(24), Record of Relationship Summary in the Context of Rule 17a-14 and Form CRS
Rule 17a-3(25) Large BD, Record of Associated Person in the Context of Regulation Best Interest

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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 estimated burden is increasing due to the burdens in proposed Rules 17a-3(24) and (25), which were proposed in connection with proposed Rule 17a-14, Form CRS, and Regulation Best Interest.

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Annual Cost to Federal Government: $0

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]? 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: 06/15/2018

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