Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers

Forms and Documents

Document Name	Status
Rule 17a-3 supporting.doc Supporting Statement A	2007-11-27

IC Document Collections

IC ID	Document Title	Status
34094	Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers	Modified

ICR Details

OMB Control No: 3235-0033	ICR Reference No: 200709-3235-017
Status: Historical Active	Previous ICR Reference No: 200411-3235-008
Agency/Subagency: SEC	Agency Tracking No: 240-026
Title: Rule 17a-3; Records to be Made 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 without change	Conclusion Date: 04/10/2008
	Date Received in OIRA: 11/27/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2011	36 Months From Approved	04/30/2008
Responses	5,850	0	6,900
Time Burden (Hours)	2,984,729	0	2,421,195
Cost Burden (Dollars)	31,539,281	0	24,900,000

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Abstract: 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.

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Authorizing Statute(s): US Code: 15 USC 78q, 78w, 78mm, 80a-30(a), 80a Name of Law: 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 54085	09/21/2007
30-day Notice:	Federal Register Citation:	Citation Date:
	72 FR 66202	11/27/2007
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
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers

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ICR Summary 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	5,850	6,900	0	0	-1,050	0
Annual Time Burden (Hours)	2,984,729	2,421,195	0	0	563,534	0
Annual Cost Burden (Dollars)	31,539,281	24,900,000	0	0	6,639,281	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The annual record-keeping hour burden of 2,984,760 hours listed on Item 13 of the Rule 17a-3 OMB Form 83-I reflects a 563,565 increase over the current OMB inventory of 2,421,195 hours. This change incorporates both a decrease in the number of respondents of 1,050, from 6,900 to 5,850, and an increase in the number of customer accounts held by broker-dealers of 9,242,667, from 102,530,971 to 111,773,638. The annual reporting and record-keeping cost burden of $31,539,282 each year as listed on Item 14 of the Rule 17a-3 OMB Form 83-I is $6,639,282 greater, respectively, than the current OMB inventory of $24,900,000. This increase reflects the additional costs created by the 9,242,667 additional customer accounts (111,773,638 customer accounts reported in Dec., 2006 vs. 102,530,971 customer accounts reported in Dec., 2003). In addition, the staff increased its cost estimates to account for inflation. Finally, approximately $80,000 is attributable to a rounding error in the 2004 filing.

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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: 11/27/2007

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