Document ID: SEC-2019-1154-0002
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2022-08-02T04:00Z

[Federal Register Volume 87, Number 147 (Tuesday, August 2, 2022)]
[Notices]
[Page 47238]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-16479]

[[Page 47238]]

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SECURITIES AND EXCHANGE COMMISSION

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

Proposed Collection; 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'') is soliciting comments on the existing 
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.). 
The Commission plans to submit this existing collection of information 
to the Office of Management and Budget (``OMB'') for extension and 
approval.
    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.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimate of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted by 
October 3, 2022.
    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.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John 
Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email to: 
[email protected].

    Dated: July 27, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-16479 Filed 8-1-22; 8:45 am]
BILLING CODE 8011-01-P