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
3235-0279 Supporting Statement (02.08.23).pdf	Supporting Statement A	Uploaded 2023-02-09	Repair queued

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
258415	Rule 17a-4(b)(1), (e)(11), (e)(12) - Risk Mitigation		New
258134	Alternative undertaking - Cloud Service Providers		New
258133	Alternative undertaking - Broker-dealers		New
258132	17a-4(f) - Backup Systems or Redundant Equivalency for Small BDs (Annual)		New
258131	17a-4(f) - Backup Systems or Redundant Equivalency		New
258130	17a-4(f) - Backup Systems or Redundant Equivalency for Large BDs (Initial Annualized)		New
258129	17a-4(f) - Backup Systems or Redundant Equivalency for Large BDs (Annual)		New
258128	17a-4(f) - Audit Trail Alternative to WORM for Small Broker-Dealers (Initial Annualized)		New
258127	17a-4(f) - Audit Trail Alternative to WORM for Small Broker-Dealers (Annual)		New
258126	17a-4(f) Audit trail alternative to WORM for Large Broker-Dealers (Initial Annualized)		New
258125	17a-4(f) Audit trail alternative to WORM for Large Broker-Dealers (Annual)		New
258124	Third Party or Designated Executive Officer Undertaking		New
248621	Broker-Dealer SBSDs Only		Unchanged
248620	Broker-Dealer SBSDs and Broker-Dealer MSBSPs		Unchanged
248618	Security-Based Swap Activities		Unchanged
248617	Telephonic Communications		Unchanged
231799	Rule 17a-4(e)(10), Maintenance of Records in Connection with Rule 17a-14 and Form CRS		Modified
231798	Rule 17a-4(e)(5), Ongoing Recordkeeping in Connection with Regulation Best Interest		Modified
231797	Rule 17a-4(e)(5), New or Modified Documents Being Added to a Record Retention System in Connection with Regulation BI		Modified
209189	Rule 17a-4(b)(11) Record preservation requirements		Modified

ICR Details

OMB Control No: 3235-0279	ICR Reference No: 202301-3235-027
Status: Historical Active	Previous ICR Reference No: 202208-3235-025
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: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 05/22/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/09/2023
Terms of Clearance: Supporting statement resp 12 updated during OMB review.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2026	01/31/2026	01/31/2026
Responses	1,010,925,202	0	1,010,922,674
Time Burden (Hours)	9,306,630	0	9,303,570
Cost Burden (Dollars)	34,195,757	0	17,611,320

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Abstract: PARTIAL REVISION: Rule 17a-4 requires certain records to be maintained by certain exchange members and registered brokers and dealers. This submission includes revisions for both the electronic recordkeeping amendments and the risk mitigation rule amendments.

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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

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM76	Final or interim final rulemaking	87 FR 66412	11/03/2022

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 21

table that charts list of burden

IC Title	Form No.	Form Name
17a-4(f) - Audit Trail Alternative to WORM for Small Broker-Dealers (Annual)
17a-4(f) - Audit Trail Alternative to WORM for Small Broker-Dealers (Initial Annualized)
17a-4(f) - Backup Systems or Redundant Equivalency
17a-4(f) - Backup Systems or Redundant Equivalency for Large BDs (Annual)
17a-4(f) - Backup Systems or Redundant Equivalency for Large BDs (Initial Annualized)
17a-4(f) - Backup Systems or Redundant Equivalency for Small BDs (Annual)
17a-4(f) Audit trail alternative to WORM for Large Broker-Dealers (Annual)
17a-4(f) Audit trail alternative to WORM for Large Broker-Dealers (Initial Annualized)
Alternative undertaking - Broker-dealers
Alternative undertaking - Cloud Service Providers
Broker-Dealer SBSDs Only
Broker-Dealer SBSDs and Broker-Dealer MSBSPs
Rule 17a-4(b)(1), (e)(11), (e)(12) - Risk Mitigation
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
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
Security-Based Swap Activities
Telephonic Communications
Third Party or Designated Executive Officer Undertaking

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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	1,010,925,202	1,010,922,674	0	2,528	0	0
Annual Time Burden (Hours)	9,306,630	9,303,570	0	3,060	0	0
Annual Cost Burden (Dollars)	34,195,757	17,611,320	0	16,584,437	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 has adopted rule amendments to Rule 17a-4 that would result in increased hour and cost burdens. These are discussed in more detail in the attached Supporting Statement.

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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

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Common Form ICR:  No

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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: 02/09/2023

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