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 a new rulemaking in 2019 (new Rule 17a-14 and
Form CRS, and Regulation Best Interest), the Commission amended
Rule 17a-3 by adding new paragraphs (a)(24) and (a)(35). The
Commission is adding the annual burden hours for new paragraphs
(a)(24) and (a)(35) of Rule 17a-3 into this information
collection.
The Commission amended existing
3235-0033 in 2019 to add five new information collections in
connection with the rulemaking for Regulation Best Interest. The
amendments were reviewed by OIRA in 2018 when the rule was
proposed; however, the Commission has made several adjustments in
the final rule (NOTE: The ICs that were in the rule prior to the
2019 rulemaking are not being affected and we have not changed any
of those estimates). The adjustments to the ICs in the proposed
rules are as follows: First, we changed the titles of the four new
ICs that were previously reviewed by OIRA to better reflect the
requirement in the rulemaking. Second, we adjusted several of the
ICs because the estimated number of respondents has decreased
slightly. Third, we adjusted the hour burden for one IC based on
comments received and for another due to a change in the estimated
number of responses per year. Fourth, we added a new IC, Record of
Oral Disclosure, because comments received on the proposal resulted
in a new provision in the final rule. These adjustments are
discussed in detail in the Supporting Statement.
$0
No
No
No
No
No
No
Uncollected
Geeta Dhingra 202
551-6177
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 17a-3 (3235-0033) Supporting Statement (Adds new ICs due to 2019 Rulemaking).pdf
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers