Rule 15c3-5, Risk Management Controls for Brokers or Dealers with Market Access

Forms and Documents

Document Name	Status
2025 07 08_90 FR 30186_3235-0673_60-Day Collection Notice.pdf Supplementary Document	2025-07-08
2025 SUPPORTING STATEMENT Rule 15c3-5.pdf Supporting Statement A	2025-07-02

IC Document Collections

IC ID	Document Title	Status
192016	Rule 15c3-5: Risk Management Controls for Brokers or Dealers with Market Access	Modified

ICR Details

OMB Control No: 3235-0673	ICR Reference No: 202507-3235-001
Status: Received in OIRA	Previous ICR Reference No: 202207-3235-022
Agency/Subagency: SEC	Agency Tracking No: TM
Title: Rule 15c3-5, Risk Management Controls for Brokers or Dealers with Market Access
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 09/16/2025

	Requested	Previously Approved
Expiration Date	36 Months From Approved	11/30/2025
Responses	500	520
Time Burden (Hours)	80,000	83,200
Cost Burden (Dollars)	10,250,000	10,660,000

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Abstract: Rule 15c3-5 (17 CFR 240.15c3-5) under the Securities Exchange Act of 1934 (Exchange Act) requires brokers or dealers with access to trading directly on an exchange or alternative trading system, including those providing sponsored or direct market access to customers or other persons, to implement risk management controls and supervisory procedures reasonably designed to manage the financial, regulatory, and other risks of this business activity. The rule requires brokers or dealers to establish, document, and maintain certain risk management controls and supervisory procedures as well as regularly review such controls and procedures, and document the review, and remediate issues discovered to assure overall effectiveness of such controls and procedures. Each such broker or dealer is required to preserve a copy of its supervisory procedures and a written description of its risk management controls as part of its books and records in a manner consistent with Rule 17a-4(e)(7) under the Exchange Act. Such regular review is required to be conducted in accordance with written procedures and is required to be documented. The broker or dealer is required to preserve a copy of such written procedures, and documentation of each such review, as part of its books and records in a manner consistent with Rule 17a-4(e)(7) under the Exchange Act, and Rule 17a-4(b) under the Exchange Act, respectively. In addition, the Chief Executive Officer (or equivalent officer) is required to certify annually that the broker or dealers risk management controls and supervisory procedures comply with the rule, and that the broker-dealer conducted such review. Such certifications are required to be preserved by the broker or dealer as part of its books and records in a manner consistent with Rule 17a-4(b) under the Exchange Act.

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Authorizing Statute(s): US Code: 15 USC 78b Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78c(b) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78k-1 Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q(a) and (b) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78w(a) 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:
	90 FR 30186	07/08/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 44746	09/16/2025
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 15c3-5: Risk Management Controls for Brokers or Dealers with Market Access

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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	500	520	0	-20	0	0
Annual Time Burden (Hours)	80,000	83,200	0	-3,200	0	0
Annual Cost Burden (Dollars)	10,250,000	10,660,000	0	-410,000	0	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The Commission estimates that there are fewer respondents for this collection of information. The estimated burdens 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: 09/16/2025

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