Regulation R-Rule Rule 701. Exemption from the definition of "broker" for certain institutional referrals.

ICR 202109-3235-005

OMB: 3235-0624

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2022-01-11
Supplementary Document
2022-01-11
Supporting Statement A
2021-09-10
Supplementary Document
2019-02-01
Supplementary Document
2019-02-01
IC Document Collections
ICR Details
3235-0624 202109-3235-005
Received in OIRA 201806-3235-012
SEC TM-270-562
Regulation R-Rule Rule 701. Exemption from the definition of "broker" for certain institutional referrals.
Extension without change of a currently approved collection   No
Regular 01/11/2022
  Requested Previously Approved
36 Months From Approved 04/30/2022
2,000 2,000
500 500
0 0

Proposed Exchange Act Rule 701 provides a conditional exemption from the definition of “broker” under Exchange Act Section 3(a)(4). This proposed rule would require a broker or dealer (as part of a written agreement between the bank and the broker or dealer) to notify the bank if the broker or dealer makes certain determinations regarding the financial status of the customer, a bank employee’s statutory disqualification status, and compliance with suitability or sophistication standards.

US Code: 15 USC 78c(b), 78(o), 78w(a), and 78m Name of Law: Securities Exchange Act of 1934
   PL: Pub.L. 106 - 102 113 Stat. 1338 Name of Law: Gramm-Leach-Bliley Act
  
None

Not associated with rulemaking

  86 FR 58969 10/25/2021
87 FR 126 01/03/2022
No

1
IC Title Form No. Form Name
Rule 701. Exemption from the definition of "broker" for certain institutional referrals

  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 2,000 2,000 0 0 0 0
Annual Time Burden (Hours) 500 500 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
No
No
No
Selviana Banua 202 551-2252

  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.
01/11/2022


© 2022 OMB.report | Privacy Policy