
[Federal Register Volume 88, Number 198 (Monday, October 16, 2023)]
[Notices]
[Page 71389]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-22733]



[[Page 71389]]

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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: www.reginfo.gov. 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 15, 2023 to (i) www.reginfo.gov/public/do/PRAMain 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: 
[email protected].

    Dated: October 10, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-22733 Filed 10-13-23; 8:45 am]
BILLING CODE 8011-01-P


