[Federal Register Volume 88, Number 146 (Tuesday, August 1, 2023)]
[Notices]
[Pages 50231-50232]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-16226]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-155, OMB Control No. 3235-0123]


Proposed Collection; 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 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 17a-5 (17 CFR 240.17a-
5), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). 
The Commission plans to submit this existing collection of information 
to the Office of Management and Budget (``OMB'') for extension and 
approval.
    Rule 17a-5 is the basic financial reporting rule for brokers and 
dealers.\1\ Rule 17a-5 applies to broker-dealers, including some 
broker-dealers that are

[[Page 50232]]

OTC derivatives dealers; broker-dealers, other than OTC derivatives 
dealers, that are also registered security-based swap dealers; and 
broker-dealers, including OTC derivatives dealers, that are also 
registered as major security-based swap participants. 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.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information 
collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted by 
October 2, 2023.
    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.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John 
Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email to: 
[email protected].

    Dated: July 26, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-16226 Filed 7-31-23; 8:45 am]
BILLING CODE 8011-01-P


