Rule 17a-4; Records to be Preserved by Certain Exchange Members, Brokers and Dealers

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
60 Day Notice 3235-0279.pdf	Supplementary Document	Uploaded 2019-10-22	Available
30 Day Notice 3235-0279.pdf	Supplementary Document	Uploaded 2019-10-22	Available
17a-4 supporting statement.docx	Supporting Statement A	Uploaded 2019-10-04	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34755	Rule 17a-4; Records to be Preserved by Certain Exchange Members, Brokers and Dealers		Modified
231799	Rule 17a-4(e)(10), Maintenance of Records in Connection with Rule 17a-14 and Form CRS		Unchanged
231798	Rule 17a-4(e)(5), Ongoing Recordkeeping in Connection with Regulation Best Interest		Unchanged
231797	Rule 17a-4(e)(5), New or Modified Documents Being Added to a Record Retention System in Connection with Regulation BI		Unchanged
209189	Rule 17a-4(b)(11) Record preservation requirements		Modified

ICR Details

OMB Control No: 3235-0279	ICR Reference No: 201910-3235-004
Status: Active	Previous ICR Reference No: 201908-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM-270-198
Title: Rule 17a-4; Records to be Preserved 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: 12/09/2019
	Date Received in OIRA: 10/22/2019
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	1,084,643,842	0	1,084,644,132
Time Burden (Hours)	9,978,396	0	10,064,606
Cost Burden (Dollars)	18,820,000	0	20,520,000

---

Abstract: Rule 17a-4 requires certain records to be maintained by certain exchange members and registered brokers and dealers.

---

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

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 35701	07/24/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 51692	09/30/2019
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 5

table that charts list of burden

IC Title	Form No.	Form Name
Rule 17a-4(e)(5), Ongoing Recordkeeping in Connection with Regulation Best Interest
Rule 17a-4; Records to be Preserved by Certain Exchange Members, Brokers and Dealers
Rule 17a-4(b)(11) Record preservation requirements
Rule 17a-4(e)(10), Maintenance of Records in Connection with Rule 17a-14 and Form CRS
Rule 17a-4(e)(5), New or Modified Documents Being Added to a Record Retention System in Connection with Regulation BI

---

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	1,084,643,842	1,084,644,132	0	-290	0	0
Annual Time Burden (Hours)	9,978,396	10,064,606	0	-86,210	0	0
Annual Cost Burden (Dollars)	18,820,000	20,520,000	0	-1,700,000	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The burden increased largely because of the adoption of Regulation Best Interest and Rule 17a-14, which added the new requirements in Rule 17a-4(e)(5) and Rule 17a-4(e)(10), adding 9,021,740 burden hours. The number of registered broker-dealers has declined from 4,104 to 3,764, reducing the overall burden for all broker-dealers as a result. Additionally, the estimated number of internal broker-dealer systems has increased from 150 to 200, which has increased the burden hours associated with internal broker-dealer systems.

---

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

---

Common Form ICR:  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:

(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: 10/22/2019

---