OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not
an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of
1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB
Control Number, the OMB Control Number will not appear in the active inventory. For future
submissions of this information collection, reference the OMB Control Number provided. Pursuant to
5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In
accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine
public comment in response to the NPRM and will include in the supporting statement of the next
ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded
to any public comments on the ICR, including comments on maximizing the practical utility of the
collection and minimizing the burden. This action has no effect on any current approvals.
Inventory as of this Action
Requested
Previously Approved
10/31/2016
36 Months From Approved
10/31/2016
19,940
0
19,940
2,734,092
0
2,734,092
16,977,793
0
16,977,793
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. The proposed amendments to Rule 17a-3 (in conjunction with the proposed amendments to Rule 17a-4) would establish additional recordkeeping requirements applicable to broker-dealers, including those that are dually registered as an SBSD or MSBSP, to the extent they engage in security-based swap or swap activities.
The annual ongoing hour burden of 2,645,786 hours reflects a 88,306 hour decrease over the current OMB inventory of 2,734,092 hours. This change incorporates a decrease of 164 in the number of respondents, from 4,709 to 4,545, an increase in the number of estimated internal broker-dealer systems from 130 to 150, and an additional 5,636 hours attributable to the amendments to Rule 17a-3 described in the SBS Recordkeeping Release.
The annual cost burden of $16,384,725 is $593,068 lower than the current OMB inventory of $16,977,793. This decreased cost estimate reflects a decrease of 164 in the number of respondents.
$0
No
No
No
No
No
Uncollected
Valentina Deng 202 551-5778
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.
Supporting Statement 17a-3 - Final - 3-15-16.docx
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers