Rule 15b9-1 – Exemption for Certain Exchange Members

Forms and Documents

Document	Type	Status	Availability
3235-0743 Supporting Statement (2022 Re-proposal).pdf	Supporting Statement A	Uploaded 2022-09-16	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
255974	Maintaining and Enforcing Written Policies and Procedures		New
255973	Establishing Written Policies and Procedures		New
219959	Dealer Policies and Procedures		Removed

ICR Details

OMB Control No: 3235-0743	ICR Reference No: 202209-3235-013
Status: Received in OIRA	Previous ICR Reference No: 201602-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM-270-665
Title: Rule 15b9-1 – Exemption for Certain Exchange Members
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/18/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	14	0
Time Burden (Hours)	355	0
Cost Burden (Dollars)	0	0

---

Abstract: Rule 15b9-1 provides an exemption for certain broker-dealers from the Securities Exchange Act of 1934 requirement to become a member of a national securities association. Under the proposed amendments to this Rule, a broker-dealer relying on the Rule would be permitted to effect securities transactions otherwise than on a national securities exchange of which it is a member if the transactions are solely for the purpose of executing the stock leg of a stock-option order, and the broker-dealer establishes, maintains and enforces written policies and procedures reasonably designed to ensure and demonstrate that such transactions are solely for such purpose. NOTE: This rule was first proposed in 2016; the Commission recently re-proposed it and is submitting a new PRA package for OMB's review.

---

Authorizing Statute(s): US Code: 15 USC 78o(b)(9) Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AN17	Proposed rulemaking	87 FR 49930	08/12/2022

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Dealer Policies and Procedures
Establishing Written Policies and Procedures
Maintaining and Enforcing Written Policies and Procedures

---

ICR Summary of Burden

	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	14	0	0	14	0	0
Annual Time Burden (Hours)	355	0	0	355	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Commission recently re-proposed amendments to Rule 15b9-1 that would result in certain collections of information. These are discussed in more detail in the attached Supporting Statement.

---

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? No

---

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: 09/18/2022

---