Notice2023-22190
Submission for OMB Review; Comment Request; Extension: Rule 17a-5
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
October 5, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 192 (Thursday, October 5, 2023)</title>
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[Federal Register Volume 88, Number 192 (Thursday, October 5, 2023)]
[Notices]
[Page 69241]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-22190]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-155, OMB Control No. 3235-0123]
Submission for OMB Review; Comment Request; Extension: Rule 17a-5
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.), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget (``OMB'') a request for extension of the previously approved
collection of information discussed below.
Rule 17a-5 (17 CFR 240.17a-5) under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.) is the basic financial reporting rule for
brokers and dealers.\1\ The rule requires the filing of Form X-17A-5,
the Financial and Operational Combined Uniform Single Report (``FOCUS
Report''), which was the result of years of study and comments by
representatives of the securities industry through advisory committees
and through the normal rule proposal methods. The FOCUS Report was
designed to eliminate the overlapping regulatory reports required by
various self-regulatory organizations and the Commission and to reduce
reporting burdens as much as possible. The rule also requires the
filing of annual reports, which include a financial report and a
compliance or exemption report as well as reports of an independent
public accountant covering the financial report and the compliance or
exemption report. In addition, the rule requires a broker-dealer that
computes certain capital charges in accordance with Appendix E to
Exchange Act Rule 15c3-1 (17 CFR 240.15c3-1e) to file additional
monthly or quarterly reports and a supplemental report on management
controls concurrently with its annual reports.
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\1\ Rule 17a-5(c) requires a broker or dealer to furnish certain
of its financial information to customers and is subject to a
separate PRA filing (OMB Control Number 3235-0199).
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The Commission estimates that the total hour burden under Rule 17a-
5 is approximately 397,467 hours per year, and the total cost burden is
approximately $31,295,048 per year. Since the last approval of this
information collection, the estimated total burden hours per year has
increased due to more respondents filing monthly reports rather than
quarterly reports under Rule 17a-5; the estimated total cost burden per
year has decreased due to more filings being submitted electronically.
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 November 6, 2023 to (i) <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</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#2e7e7c6f71634f47424c41566e5d4b4d00494158"><span class="__cf_email__" data-cfemail="c39391829c8ea2aaafa1acbb83b0a6a0eda4acb5">[email protected]</span></a>.
Dated: October 2, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-22190 Filed 10-4-23; 8:45 am]
BILLING CODE 8011-01-P
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