Notice2023-01254
Submission for OMB Review; Comment Request: Extension: Rule 17a-14 and Form CRS
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 24, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 15 (Tuesday, January 24, 2023)</title>
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[Federal Register Volume 88, Number 15 (Tuesday, January 24, 2023)]
[Notices]
[Pages 4251-4252]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-01254]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-809, OMB Control No. 3235-0766]
Submission for OMB Review; Comment Request: Extension: Rule 17a-
14 and Form CRS
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'') 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-
14 [17 CFR 240.17a-14] and Form CRS [17 CFR 249.640], under the
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
Rule 17a-14 and Form CRS require a broker-dealer that offers
services to retail investors to prepare and file with the Commission
through WebCRD, post to the broker-dealer's website (if it has one),
and deliver to retail investors a relationship summary. The
relationship summary can assist retail investors in making an informed
choice about whether to hire or retain a broker-dealer,
[[Page 4252]]
as well as what types of accounts and services are appropriate for
their needs.
The information that must be collected pursuant to Rule 17a-14 and
Form CRS is necessary to provide broker-dealer retail customers,
prospective retail customers, and the Commission with information about
the relationships and services the firm offers to retail investors,
fees and costs that the retail investor will pay, specific conflicts of
interest and standards of conduct, legal or disciplinary history, and
how to obtain additional information about the firm. The Commission
uses the information to manage its regulatory and examination programs.
Clients can use the information required in the relationship summary to
determine whether to hire or retain a broker-dealer, as well as what
types of accounts and services are appropriate for their needs. The
information will therefore help establish a framework that protects
investors and promotes efficiency, competition, and capital formation.
The aggregate annual hour burden for all respondents to comply with
the information collection requirements of Rule 17a-14 and Form CRS is
estimated to be approximately 6,098,916 hours per year. Under Rule 17a-
14 and Form CRS, respondents will also incur cost burdens. The
aggregate annual cost burden for all respondents is estimated to be
approximately $181,194 per year.
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: ><a href="http://www.reginfo.gov">www.reginfo.gov</a><. 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 February 23, 2023 to (i)
><a href="/cdn-cgi/l/email-protection#a2efe0fa8cedefe08cedebf0e38cf1e7e1fdc6c7d1c9fdcdc4c4cbc1c7d0e2cdcfc08cc7cdd28cc5cdd4"><span class="__cf_email__" data-cfemail="a8e5eaf086e7e5ea86e7e1fae986fbedebf7cccddbc3f7c7cecec1cbcddae8c7c5ca86cdc7d886cfc7de">[email protected]</span></a>< 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: <a href="/cdn-cgi/l/email-protection#9ececcdfc1d3fff7f2fcf1e6deedfbfdb0f9f1e8"><span class="__cf_email__" data-cfemail="6b3b392a34260a02070904132b180e08450c041d">[email protected]</span></a>.
Dated: January 18, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-01254 Filed 1-23-23; 8:45 am]
BILLING CODE 8011-01-P
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