Rule 17a-3 requires certain records to be made by certain exchange members and registered brokers and dealers. The rule serves to standardize prudent business practices. Among other things, these records are essential for regulatory purposes including examinations, investigations, and enforcement proceedings, which are significant customer protection safeguards.
In connection with proposed new Rule 17a-14 and Form CRS, and proposed Regulation Best Interest, the Commission is proposing to amend Rule 17a-3 by adding new paragraphs (a)(24) and (a)(25). To aggregate the entire burden of Rule 17a-3 into one information collection (and existing OMB control number), the Commission is adding the annual burden hours for new paragraphs (a)(24) and (a)(25) of Rule 17a-3 into this information collection.
The estimated burden is increasing due to the burdens in proposed Rules 17a-3(24) and (25), which were proposed in connection with proposed Rule 17a-14, Form CRS, and Regulation Best Interest.
$0
No
No
No
No
No
No
Uncollected
Geeta Dhingra 202 551-6177
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
PRA Supporting Statement (17a-3).pdf
Rule 17a-3; Records to be Made by Certain Exchange Members, Brokers and Dealers