Rule 17a-5(c); Customer Financial Statements for Brokers and Dealers.
Extension without change of a currently approved collection
No
Regular
01/03/2022
Requested
Previously Approved
36 Months From Approved
02/28/2022
55,640,957
54,004,571
228,024
161,158
0
0
Rule 17a-5(c) sets forth requirements for broker-dealers that carry customer accounts to provide financial statements to their customers. The purpose of the Rule is to ensure that customers of broker-dealers are provided with information concerning the financial condition of the firm that may be holding the customers' cash and securities so that the customers can judge whether the broker or dealer is financially sound.
US Code:
15 USC 78q
Name of Law: Securities Exchange Act of 1934
Since the time of the last submission, there has been modest increase in the Commissionâs estimate of the number of broker-dealers that carry customer accounts, from 162 to 163, and an increase in the total number of public customer accounts, from 132 million to 186 million. Further, the Commission previously estimated that 129 broker-dealers took advantage of the exemption of paragraph (c)(5) of Rule 17a-5 and that 33 broker-dealers carrying approximately 27 million customer accounts did not take advantage of the exemption. The Commission now estimates that 129 broker-dealers take advantage of the exemption and that 34 broker-dealers carrying 39 million customer accounts do not take advantage of the exemption.
$0
No
No
No
No
No
No
No
Timothy Fox 202 551-5687
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.
3235-0199.pdf
Rule 17a-5(c): Exempt firms sending financial disclosure statements to customers