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

Forms and Documents

Document Name	Status
3235-0033 Supporting Statement (Rule 17a-3--Partial Revision 2021).pdf Supporting Statement A	2021-07-29

IC Document Collections

IC ID	Document Title	Status
34094	Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers	Unchanged
248614	NEW: Broker-dealer SBSDs only: Paragraph (a)(29)	New
248613	NEW: Broker-dealer SBSDs and broker-dealer MSBSPs: Paragraphs (a)(25), (a)(28), and (a)(30)	New
248612	NEW: Security-based swap activities: Paragraphs (a)(1), (a)(3), (a)(5), (a)(6), (a)(7), (a)(8), (a)(9), (a)(26), and (a)(27)	New
237211	17a-3(a)(35) Record of Oral Disclosure	Modified
231807	Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Individual Burden	Modified
231796	Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Firm Burden- Small Broker-Dealers	Modified
231789	Rule 17a-3(35) Record of Identity of Associate Person Responsible For Account- Large Broker-Dealers	Modified
231788	Rule 17a-3(24), Record of Date Form CRS Provided to Each Customer and Prospective Customer	Modified
222972	Ongoing cost for equipment & systems development	Unchanged
222971	Rule 17a-3(a)(17) - providing updated information to customers	Unchanged
222969	Rule 17a-3(a)(17)(i)(B(2) + (3) - Small BD	Unchanged
222968	Rule 17a-3(a)(17)(i)(B)(2) + (3) - Large BD	Unchanged
222967	Rule 17a-3(a)(17)(i)(B(1) - Small BD	Unchanged
209188	Rule 17a-3(a)(16)	Unchanged
208461	Rule 17a-3(a)(23) Part II	Unchanged
208460	Rule 17a-3(a)(23) Part I	Unchanged
208459	Rule 17a-3(a)(17)(i)(B)(1) - Large BD	Unchanged
208456	Rule 17a-3(a)(20-22)	Unchanged
208455	Rule 17a-3(a)(12, 19)	Unchanged

ICR Details

OMB Control No: 3235-0033	ICR Reference No: 202107-3235-019
Status: Received in OIRA	Previous ICR Reference No: 201910-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM-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	Date Submitted to OIRA: 07/30/2021

	Requested	Previously Approved
Expiration Date	12/31/2022	12/31/2022
Responses	248,322,084	248,322,009
Time Burden (Hours)	5,322,107	5,317,241
Cost Burden (Dollars)	54,448,137	54,448,137

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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. Partial Revision-- the Commission is revising this collection of information in connection with a 2019 rulemaking that amended several Commission rules. Although the amendments were adopted in 2019, they are not required to be complied with until October 6, 2021. The amendments, which established recordkeeping requirements for broker-dealers' security-based swap activities, resulted in new estimates to this collection of information. The proposed revisions were submitted to OMB in 2016 (see ICR Ref. No. 201603-3235-004), and this submission is for the final revisions.

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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-AL45	Final or interim final rulemaking	84 FR 68550	12/16/2019

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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: 20

IC Title	Form No.	Form Name
17a-3(a)(35) Record of Oral Disclosure
NEW: Broker-dealer SBSDs and broker-dealer MSBSPs: Paragraphs (a)(25), (a)(28), and (a)(30)
NEW: Broker-dealer SBSDs only: Paragraph (a)(29)
NEW: Security-based swap activities: Paragraphs (a)(1), (a)(3), (a)(5), (a)(6), (a)(7), (a)(8), (a)(9), (a)(26), and (a)(27)
Ongoing cost for equipment & systems development
Rule 17a-3(24), Record of Date Form CRS Provided to Each Customer and Prospective Customer
Rule 17a-3(35) Record of Identity of Associate Person Responsible For Account- Large Broker-Dealers
Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Firm Burden- Small Broker-Dealers
Rule 17a-3(35) Record of Identity of Associate Person Responsible for Account/Individual Burden
Rule 17a-3(a)(12, 19)
Rule 17a-3(a)(16)
Rule 17a-3(a)(17) - providing updated information to customers
Rule 17a-3(a)(17)(i)(B(1) - Small BD
Rule 17a-3(a)(17)(i)(B(2) + (3) - Small BD
Rule 17a-3(a)(17)(i)(B)(1) - Large BD
Rule 17a-3(a)(17)(i)(B)(2) + (3) - Large BD
Rule 17a-3(a)(20-22)
Rule 17a-3(a)(23) Part I
Rule 17a-3(a)(23) Part II
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers

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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	248,322,084	248,322,009	0	75	0	0
Annual Time Burden (Hours)	5,322,107	5,317,241	0	4,866	0	0
Annual Cost Burden (Dollars)	54,448,137	54,448,137	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 is adding three new burdens to this collection of information as a result of the 2019 amendments to Rule 17a-3. They have been added at the end of the IC list and are marked NEW. They are also included in a separate chart in the Supporting Statement, in order to distinguish them from the existing burdens in this collection of information, which have not been changed.

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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: 07/30/2021

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