Notice2023-04825
Submission for OMB Review; Comment Request; Extension: Customer Account Statements (17 CFR 242.607)
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
March 9, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 46 (Thursday, March 9, 2023)</title>
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[Federal Register Volume 88, Number 46 (Thursday, March 9, 2023)]
[Notices]
[Page 14662]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-04825]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-382, OMB Control No. 3235-0435]
Submission for OMB Review; Comment Request; Extension: Customer
Account Statements (17 CFR 242.607)
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 607
(17 CFR 242.607) under the Securities Exchange Act of 1934 (17 U.S.C.
78a et seq.) (``Exchange Act'').
Rule 607 requires disclosure on each new account and on a yearly
basis thereafter, on the annual statement, the firm's policies
regarding receipt of payment for order flow from any market makers,
exchanges or exchange members to which it routes customers' order in
national market system securities for execution; and information
regarding the aggregate amount of monetary payments, discounts, rebates
or reduction in fees received by the firm over the past year.
The information collected pursuant to Rule 607 is necessary to
facilitate the establishment of a national market system for
securities. The purpose of the rule is to ensure that customers are
adequately apprised of the broker-dealer's order routing practices with
respect to the customer's order, in furtherance of the Commission's
statutory mandate to protect investors.
The Commission estimates that approximately 3,643 respondents will
make the third-party disclosures required in the collection of
information requirements to 183,511,801 customer accounts each year.
The Commission estimates that the average number of hours necessary for
each respondent to comply with Rule 607 per year is 39.714 hours, which
results in an average aggregated annual burden of 144,678.102 hours.
The collection of information in Rule 607 is mandatory for all
respondents, but does not require the collection of confidential
information.
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 April 10, 2023 to (i)
<a href="/cdn-cgi/l/email-protection#e2afa0baccadafa0ccadabb0a3ccb1a7a1bd86879189bd8d84848b818790a28d8f80cc878d92cc858d94"><span class="__cf_email__" data-cfemail="410c03196f0e0c036f0e0813006f1204021e2524322a1e2e272728222433012e2c236f242e316f262e37">[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#26767467796b474f4a44495e6655434508414950"><span class="__cf_email__" data-cfemail="dd8d8f9c8290bcb4b1bfb2a59daeb8bef3bab2ab">[email protected]</span></a>.
Dated: March 6, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-04825 Filed 3-8-23; 8:45 am]
BILLING CODE 8011-01-P
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