Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers
Extension without change of a currently approved collection
No
Regular
Approved without change
11/15/2022
10/08/2022
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
11/30/2025
36 Months From Approved
12/31/2022
425,601,810
0
248,322,084
8,342,195
0
5,322,107
105,320,999
0
54,448,137
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.
Partial Revision-- the Commission is revising this collection of information in connection with a 2019 rulemaking that amended several Commission rules. Although the amendments were adopted in 2019, they are not required to be complied with until October 6, 2021. The amendments, which established recordkeeping requirements for broker-dealers' security-based swap activities, resulted in new estimates to this collection of information. The proposed revisions were submitted to OMB in 2016 (see ICR Ref. No. 201603-3235-004), and this submission is for the final revisions.
The annual hour burden has changed primarily due to an increase in the number of customer accounts held by broker-dealers (from 143,333,276 to 240,576,070). While the number of broker-dealers registered with the Commission decreased from 3,764 to 3,528, the reduced burdens associated with rules based on the number of registered broker-dealers did not outweigh the increase in burdens associated with rules based on the number of accounts. The net result has been an increase in the annual hour burden from approximately 5,322,107 hours to approximately 8,342,195 hours, a change of 3,020,088 hours per year. The annual cost burden increased due to inflation, increases in postage costs, and increase in the number of customer accounts. The overall impact of these changes has been an increase in the cost burden of $50,872,862, going from $54,448,137 to $105,320,999 per year.
$0
No
No
No
No
No
No
No
Abraham Jacob 202 551-5583
Reginfo record details
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.
3235-0033.pdf
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers