Document ID: SEC-2022-0863-0003
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals: Customer Account Statements
Posted Date: 2023-03-09T05:00Z

[Federal Register Volume 88, Number 46 (Thursday, March 9, 2023)]
[Notices]
[Page 14662]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-04825]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-382, OMB Control No. 3235-0435]

Submission for OMB Review; Comment Request; Extension: Customer 
Account Statements (17 CFR 242.607)

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 607 
(17 CFR 242.607) under the Securities Exchange Act of 1934 (17 U.S.C. 
78a et seq.) (``Exchange Act'').
    Rule 607 requires disclosure on each new account and on a yearly 
basis thereafter, on the annual statement, the firm's policies 
regarding receipt of payment for order flow from any market makers, 
exchanges or exchange members to which it routes customers' order in 
national market system securities for execution; and information 
regarding the aggregate amount of monetary payments, discounts, rebates 
or reduction in fees received by the firm over the past year.
    The information collected pursuant to Rule 607 is necessary to 
facilitate the establishment of a national market system for 
securities. The purpose of the rule is to ensure that customers are 
adequately apprised of the broker-dealer's order routing practices with 
respect to the customer's order, in furtherance of the Commission's 
statutory mandate to protect investors.
    The Commission estimates that approximately 3,643 respondents will 
make the third-party disclosures required in the collection of 
information requirements to 183,511,801 customer accounts each year. 
The Commission estimates that the average number of hours necessary for 
each respondent to comply with Rule 607 per year is 39.714 hours, which 
results in an average aggregated annual burden of 144,678.102 hours.
    The collection of information in Rule 607 is mandatory for all 
respondents, but does not require the collection of confidential 
information.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent by April 10, 2023 to (i) 
[email protected] and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o John Pezzullo, 100 F Street NE, Washington, DC 20549, or by sending 
an email to: [email protected].

    Dated: March 6, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-04825 Filed 3-8-23; 8:45 am]
BILLING CODE 8011-01-P