Document ID: SEC-2019-0421-0004
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2022-07-15T04:00Z

[Federal Register Volume 87, Number 135 (Friday, July 15, 2022)]
[Notices]
[Page 42515]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-15128]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-147, OMB Control No. 3235-0131]

Submission for OMB Review; Comment Request Extension: Rule 17a-7

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 17a-
7 (17 CFR 240.17a-7) under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.).
    Rule 17a-7 requires a non-resident broker-dealer (generally, a 
broker-dealer with its principal place of business in a place not 
subject to the jurisdiction of the United States) registered or 
applying for registration pursuant to Section 15 of the Exchange Act to 
maintain--in the United States--complete and current copies of books 
and records required to be maintained under any rule adopted under the 
Exchange Act and furnish to the Commission a written notice specifying 
the address where the copies are located. Alternatively, Rule 17a-7 
provides that non-resident broker-dealers may file with the Commission 
a written undertaking to furnish the requisite books and records to the 
Commission upon demand within 14 days of the demand.
    The Commission estimates that there are approximately 30 non-
resident broker-dealers. Based on the Commission's experience, the 
Commission estimates that the average amount of time necessary to 
comply with Rule 17a-7 is one hour per year per respondent. 
Accordingly, the Commission estimates that the total industry-wide 
reporting burden is approximately 30 hours per year. Assuming an 
average cost per hour of approximately $319 for a compliance manager, 
the total internal cost of compliance for the respondents is 
approximately $9,570 per year.\1\
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    \1\ $319 per hour for a compliance manager is from SIFMA's 
Management & Professional Earnings in the Securities Industry 2013, 
modified by Commission staff for an 1800-hour work-year, multiplied 
by 5.35 to account for bonuses, firm size, employee benefits, and 
overhead, and adjusted for inflation.
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    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 August 15, 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: July 11, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-15128 Filed 7-14-22; 8:45 am]
BILLING CODE 8011-01-P