Rule 15c1-7, 17 CFR 240.15c1-7 (Discretionary Accounts)

ICR 202008-3235-016

OMB: 3235-0134

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2021-01-14
Supplementary Document
2021-01-14
Supporting Statement A
2020-10-15
IC Document Collections
IC ID
Document
Title
Status
34429
Modified
ICR Details
3235-0134 202008-3235-016
Received in OIRA 201710-3235-004
SEC TM 270-146
Rule 15c1-7, 17 CFR 240.15c1-7 (Discretionary Accounts)
Extension without change of a currently approved collection   No
Regular 01/14/2021
  Requested Previously Approved
36 Months From Approved 04/30/2021
400,000 399,910
33,333 33,338
0 0

The Commission adopted Rule l5c1-7 in 1937 (17 CFR 240.l5c1-7) to protect the public from broker-dealers that transact unauthorized trades. The rule provides that any act of a broker-dealer designed to effect securities transactions with or for a customer account over which the broker-dealer (directly or through an agent or employee) has discretion will be considered a fraudulent, manipulative, or deceptive practice under the federal securities laws, unless a record is made of the transaction immediately by the broker-dealer. The record must include (a) the name of the customer, (b) the name, amount, and price of the security, and (c) the date and time when such transaction took place.

US Code: 15 USC 78o(c)(2), 78q, 78w(a) Name of Law: Sections 15(c)(2), 17(a) and 23(a) of the Securities Exchange Act of 1934
  
None

Not associated with rulemaking

  85 FR 71373 11/09/2020
86 FR 3216 01/14/2021
No

1
IC Title Form No. Form Name
Rule 15c1-7, 17 CFR 240.15c1-7 (Discretionary Accounts)

  Total Request 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 400,000 399,910 0 0 90 0
Annual Time Burden (Hours) 33,333 33,338 0 0 -5 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There is a small decrease in the overall time burden from 33,338 to 33,333 hours per year due to the correction of rounding errors contained in the previous submission. The estimated number of total transactions remains the same at 400,000 but the estimated number of transactions per respondent and the estimated number of burden hours per respondent of collecting information pursuant to Rule 15c1-7 has increased because the number of registered broker-dealers subject to the rule has decreased from 394 to 362.

$0
No
    No
    No
No
No
No
No
Jane Wetterau 202 551-4483

  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.
01/14/2021


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