Records To Be Made by Certain Exchange Members, Brokers, and Dealers -- Rule 17a-3

Forms and Documents

Document Name	Status

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Document Title	Status
34091	Records To Be Made by Certain Exchange Members, Brokers, and Dealers -- Rule 17a-3	Migrated

ICR Details

OMB Control No: 3235-0033	ICR Reference No: 199810-3235-009
Status: Historical Inactive	Previous ICR Reference No: 199810-3235-004
Agency/Subagency: SEC	Agency Tracking No:
Title: Records To Be Made by Certain Exchange Members, Brokers, and Dealers -- Rule 17a-3
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 12/29/1998
	Date Received in OIRA: 10/26/1998
Terms of Clearance: The information collection in this reproposed rule is not approved at this time. The agency appears to seriously understate the burden of this collection. For example, the agency cites state regulator complaints that local offices are often poorly organized and inefficiently run, hindering examination. However, in the estimates of the costs of the rule, the agency states that creation of the records is already an accepted business practice and required by SROs. This statement raises doubts about the expected impact of this additional rule. In addition, the agency appears to omit the additional costs required by the increased post traffic required by the rule, (about 6.6 million dollars based on 20 million records a year, .66 million dollars for 2 million responses) and any costs associated with modifying computer systems to generate the additional records.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/1999	12/31/2001	06/30/1999
Responses	7,769	0	7,769
Time Burden (Hours)	1,941,062	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Commission is reproposing amendments to Rule 17a-3 which would require broker-dealers to keep certain records. The records would be important for regulatory investigations and examinations and for the protection of the public.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

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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: 1

IC Title	Form No.	Form Name
Records To Be Made by Certain Exchange Members, Brokers, and Dealers -- Rule 17a-3

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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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: 10/26/1998

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