Section 17(a)(1) of the Securities
Exchange Act of 1934 ("Exchange Act") provides that broker-dealers
must make and keep records, furnish copies of the records, and make
and disseminate reports as the Securities and Exchange Commission
("Commission"), by rule, prescribes. Section 17(e)(1)(A) of the
Exchange Act requires every broker-dealer registered with the
Commission to annually file with the Commission: a balance sheet
and income statement "certified by an independent public accounting
firm, or by a registered public accounting firm if the firm is
required to be registered under the Sarbanes-Oxley Act of 2002" and
such other financial statements (which shall, as the Commission
specifies, be certified) and information concerning its financial
condition as the Commission, by rule, may prescribe. A registered
public accounting firm means a public accounting firm registered
with the Public Company Accounting Oversight Board ("PCAOB").
Section 17(e)(2) provides that the Commission, by rule, may
prescribe the form and content of the financial statements and the
accounting principles and standards used in their preparation.
Partial Revision-- the Commission is revising this collection of
information in connection with a 2019 rulemaking that amended
several Commission rules. Although the amendments were adopted in
2019, they are not required to be complied with until October 6,
2021. The amendments, which established recordkeeping requirements
for broker-dealers' security-based swap activities, resulted in new
estimates to this collection of information. The proposed revisions
were submitted to OMB in 2016 (see ICR Ref. No. 201606-3235-015),
and this submission is for the final revisions.
US Code:
15
USC 78a Name of Law: Securities Exchange Act of 1934
The Commission is adding new
burdens to this collection of information as a result of the 2019
amendments to Rule 17a-5 and Form X-17A-5. They have been added at
the end of the IC list and are marked NEW. They are also included
in a separate chart in the Supporting Statement, in order to
distinguish them from the existing burdens in this collection of
information, which have not been changed.
$0
No
No
No
No
No
No
No
Abraham Jacob 202
551-5583
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.
Form SEC 1696 IC2 - Rule 17a-5; Quarterly reports to be made by certain brokers and dealers
3235-0123 Supporting Statement (Rule 17a-5-- Partial Revision 2021).pdf
IC2 - Rule 17a-5; Quarterly reports to be made by certain brokers and dealers