Document ID: SEC-2019-1154-0003
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2022-10-07T04:00Z

[Federal Register Volume 87, Number 194 (Friday, October 7, 2022)]
[Notices]
[Page 61108]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-21820]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-026, OMB Control No. 3235-0033]

Submission for OMB Review; Comment Request; Extension: Rule 17a-3

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 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for extension of the previously approved 
collection of information provided for in Rule 17a-3 (17 CFR 240.17a-
3), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17a-3 under the Securities Exchange Act of 1934 establishes 
minimum standards with respect to business records that broker-dealers 
registered with the Commission must make and keep current. These 
records are maintained by the broker-dealer (in accordance with a 
separate rule), so they can be used by the broker-dealer and reviewed 
by Commission examiners, as well as other regulatory authority 
examiners, during inspections of the broker-dealer.
    The collections of information included in Rule 17a-3 are necessary 
to enable Commission, self-regulatory organization (``SRO''), and state 
examiners to conduct effective and efficient examinations to determine 
whether broker-dealers are complying with relevant laws, rules, and 
regulations. If broker-dealers were not required to create these 
baseline, standardized records, Commission, SRO, and state examiners 
could be unable to determine whether broker-dealers are in compliance 
with the Commission's antifraud and anti-manipulation rules, financial 
responsibility program, and other Commission, SRO, and State laws, 
rules, and regulations.
    As of December 31, 2021 there were 3,528 broker-dealers registered 
with the Commission. The Commission estimates that these broker-dealer 
respondents incur a total hour burden of approximately 8,342,195 hours 
per year to comply with Rule 17a-3.
    In addition, Rule 17a-3 contains ongoing operation and maintenance 
costs for broker-dealers, including the cost of postage to provide 
customers with account information, and costs for equipment and systems 
development. The Commission estimates that the total cost burden 
associated with Rule 17a-3 would be approximately $105,320,999 per 
year.
    Rule 17a-3 does not contain record retention requirements. 
Compliance with the rule is mandatory. The required records are 
available only to the staffs of the Commission, self-regulatory 
organizations of which the broker-dealer is a member, and the states 
during examination, inspections and investigations.
    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 the 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 November 7, 2022 to (i) 
www.reginfo.gov/public/do/PRAMain 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: October 3, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-21820 Filed 10-6-22; 8:45 am]
BILLING CODE 8011-01-P