Notice2025-16550
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17a-7
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
August 28, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 165 (Thursday, August 28, 2025)</title>
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[Federal Register Volume 90, Number 165 (Thursday, August 28, 2025)]
[Notices]
[Pages 42049-42050]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-16550]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0131]
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension: Rule 17a-7
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'') is submitting to the Office of Management
and Budget (``OMB'') this request for extension of the proposed
collection of information provided for in Rule 17a-7 under the
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
Rule 17a-7 requires a non-resident broker-dealer (generally, a
broker-dealer with its principal place of business in a place not
subject to the jurisdiction of the United States) registered or
applying for registration pursuant to Section 15 of the Exchange Act to
maintain--in the United States--complete and current copies of books
and records required to be maintained under any rule adopted under the
Exchange Act and furnish to the Commission a written notice specifying
the address where the copies are located. Alternatively, Rule 17a-7
provides that non-resident broker-dealers may file with the Commission
a written undertaking to furnish the requisite books and records to the
Commission upon demand within 14 days of the demand.
The Commission estimates that there are approximately 53 non-
resident broker-dealers. Based on the Commission's experience, the
Commission estimates that the average amount of time necessary to
comply with Rule 17a-7 is one hour per year per respondent.
Accordingly, the Commission estimates that the total industry-wide
reporting burden is approximately 53 hours per year. Assuming an
average cost per hour of approximately $344 for a compliance manager,
the total internal cost of compliance for the respondents is
approximately $18,232 per year.\1\
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\1\ $344 per hour for a compliance manager is from SIFMA's
Management & Professional Earnings in the Securities Industry 2013,
modified by Commission staff for an 1800-hour work-year, multiplied
by 5.35 to account for bonuses, firm size, employee benefits, and
overhead, and adjusted for inflation.
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An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB Control Number.
Written comments are invited on: (a) whether this proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information will
have practical utility; (b) the accuracy of the Commission's estimate
of the burden imposed by the proposed collection of information,
including the validity of the methodology and the assumptions used; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; and (d) ways to minimize the
[[Page 42050]]
burden of the collection of information on respondents, including
through the use of automated, electronic collection techniques or other
forms of information technology.
The public may view and comment on this information collection
request at: <a href="https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202505-3235-008">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202505-3235-008</a> or email comment to
<a href="/cdn-cgi/l/email-protection#4a07081264050708640503180b64190f09152e2f392115252c2c23292f380a252728642f253a642d253c"><span class="__cf_email__" data-cfemail="2b66697305646669056462796a05786e68744f4e584074444d4d42484e596b444649054e445b054c445d">[email protected]</span></a> within 30 days of the day
after publication of this notice, by September 29, 2025.
Dated: August 26, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-16550 Filed 8-27-25; 8:45 am]
BILLING CODE 8011-01-P
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