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
3235-0033 60 day notice.pdf	Supplementary Document	Uploaded 2019-10-29	Available
3235-0033 30 Day Notice.pdf	Supplementary Document	Uploaded 2019-10-29	Available
ULT FINAL DGL COMBINED REVISED 17a-3 supporting statement (Draft K - 10.01.2019) clean.pdf	Supporting Statement A	Uploaded 2019-10-04	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
237211	NEW: 17a-3(a)(35) Record of Oral Disclosure		Unchanged
231807	NEW: Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Individual Burden		Unchanged
231796	NEW: Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Firm Burden- Small Broker-Dealers		Unchanged
231789	NEW: Rule 17a-3(35) Record of Identity of Associate Person Responsible For Account- Large Broker-Dealers		Unchanged
231788	NEW: Rule 17a-3(24), Record of Date Form CRS Provided to Each Customer and Prospective Customer		Unchanged
222972	Ongoing cost for equipment & systems development		Modified
222971	Rule 17a-3(a)(17) - providing updated information to customers		Modified
222969	Rule 17a-3(a)(17)(i)(B(2) + (3) - Small BD		Modified
222968	Rule 17a-3(a)(17)(i)(B)(2) + (3) - Large BD		Modified
222967	Rule 17a-3(a)(17)(i)(B(1) - Small BD		Modified
209188	Rule 17a-3(a)(16)		Modified
208461	Rule 17a-3(a)(23) Part II		Modified
208460	Rule 17a-3(a)(23) Part I		Modified
208459	Rule 17a-3(a)(17)(i)(B)(1) - Large BD		Modified
208456	Rule 17a-3(a)(20-22)		Modified
208455	Rule 17a-3(a)(12, 19)		Modified

ICR Details

OMB Control No: 3235-0033	ICR Reference No: 201910-3235-003
Status: Active	Previous ICR Reference No: 201907-3235-045
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: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/13/2019
	Date Received in OIRA: 10/29/2019
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2022	36 Months From Approved	09/30/2021
Responses	248,322,009	0	237,342,502
Time Burden (Hours)	5,317,241	0	5,187,080
Cost Burden (Dollars)	54,448,137	0	44,938,093

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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 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.

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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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 40112	08/13/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 57925	10/29/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 17

table that charts list of burden

IC Title	Form No.	Form Name
NEW: 17a-3(a)(35) Record of Oral Disclosure
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
NEW: Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Individual Burden
NEW: Rule 17a-3(24), Record of Date Form CRS Provided to Each Customer and Prospective Customer
NEW: Rule 17a-3(35) Record of Identity of Associate Person Responsible For Account- Large Broker-Dealers
NEW: Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Firm Burden- Small Broker-Dealers

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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	248,322,009	237,342,502	0	0	10,979,507	0
Annual Time Burden (Hours)	5,317,241	5,187,080	0	0	130,161	0
Annual Cost Burden (Dollars)	54,448,137	44,938,093	0	0	9,510,044	0

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 burden has changed due to a decrease in the number of respondents (i.e., the number of registered broker-dealers has decreased from 4,104 to 3,764) and an increase in the number of customer accounts held by broker-dealers (from 126,458,378 to 143,333,278). The result of these changes has been an increase in the hourly burden from 2,763,612 to 2,893,773 hours, or an increase of 130,161 hours per year. The annual costs increased due to inflation, increases in postage costs, and in increase in the number of customer accounts. The overall impact of these changes has been an increase in costs of $9,510,043, going from $44,562,361 to $54,072,405 per year. [Note: The changes in burden are calculated exclusive of the "NEW" burdens that were approved by OMB on October 3, 2019.

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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: 10/29/2019

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