Rule 15b9-1 – Exemption for Certain Exchange Members

Forms and Documents

Document Name	Status
3235-0743 (Rule 15b9-1) Supporting Statement.pdf Supporting Statement A	2023-09-07

IC Document Collections

IC ID	Document Title	Status
255974	Maintaining and Enforcing Written Policies and Procedures	Modified
255973	Establishing Written Policies and Procedures	Modified
219959	Dealer Policies and Procedures	Removed

ICR Details

OMB Control No: 3235-0743	ICR Reference No: 202308-3235-022
Status: Received in OIRA	Previous ICR Reference No: 202209-3235-013
Agency/Subagency: SEC	Agency Tracking No: TM-270-665
Title: Rule 15b9-1 – Exemption for Certain Exchange Members
Type of Information Collection: Existing collection in use without an OMB Control Number	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/07/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	34	0
Time Burden (Hours)	861	0
Cost Burden (Dollars)	0	0

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Abstract: Rule 15b9-1 provides an exemption for certain broker-dealers from the Securities Exchange Act of 1934 requirement to become a member of a national securities association. Under amendments adopted in August 2023, a broker-dealer relying on the Rule would be permitted to effect securities transactions otherwise than on a national securities exchange of which it is a member if the transactions are solely for the purpose of executing the stock leg of a stock-option order, and the broker-dealer establishes, maintains and enforces written policies and procedures reasonably designed to ensure and demonstrate that such transactions are solely for such purpose. NOTE: This rule was first proposed in 2016; the Commission re-proposed it in 2022. Both the proposals were reviewed by OMB and the Commission is now submitting the final rule's PRA package for OMB's approval.

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Authorizing Statute(s): US Code: 15 USC 78o(b)(9) 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:
3235-AN17	Final or interim final rulemaking	88 FR 61850	09/07/2023

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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: 2

IC Title	Form No.	Form Name
Dealer Policies and Procedures
Establishing Written Policies and Procedures
Maintaining and Enforcing Written Policies and Procedures

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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	34	0	0	34	0	0
Annual Time Burden (Hours)	861	0	0	861	0	0
Annual Cost Burden (Dollars)	0	0	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 has adopted a rule that would impose new collection of information requirements. 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: 09/07/2023

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