Document ID: SEC-2019-0421-0003
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2022-05-09T04:00Z

[Federal Register Volume 87, Number 89 (Monday, May 9, 2022)]
[Notices]
[Pages 27668-27669]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-09845]

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SECURITIES AND EXCHANGE COMMISSION

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

Proposed Collection; Comment Request

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

Extension:

    Rule 17a-7

    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'') is soliciting comments on the existing 
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.) 
(``Exchange Act''). The Commission plans to submit this existing 
collection of information to the Office of Management and Budget 
(``OMB'') for extension and approval.
    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.
    There are approximately 30 non-resident brokers and 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. Accordingly, 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

[[Page 27669]]

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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    Written comments are invited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information shall have practical 
utility; (b) the accuracy of the Commission's estimate of the burden of 
the 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 July 8, 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: May 3, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-09845 Filed 5-6-22; 8:45 am]
BILLING CODE 8011-01-P