
[Federal Register Volume 88, Number 151 (Tuesday, August 8, 2023)]
[Notices]
[Page 53574]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-16861]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-094, OMB Control No. 3235-0085]


Proposed Collection; Comment Request; Extension: Rule 17a-11

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-11, Notification 
Provisions for Brokers and Dealers (17 CFR 240.17a-11), under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act''). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    The Commission adopted Rule 17a-11 on July 11, 1971 in response to 
an operational crisis in the securities industry between 1967 and 1970. 
The rule requires broker-dealers that are experiencing financial or 
operational difficulties to provide notice to the Commission, the 
broker-dealer's designated examining authority (``DEA''), and the 
Commodity Futures Trading Commission (``CFTC'') if the broker-dealer is 
registered with the CFTC as a futures commission merchant. Rule 17a-11 
is an integral part of the Commission's financial responsibility 
program which enables the Commission, a broker-dealer's DEA, and the 
CFTC to increase surveillance of a broker-dealer experiencing 
difficulties and to obtain any additional information necessary to 
gauge the broker-dealer's financial or operational condition.
    Rule 17a-11 also requires over-the-counter derivatives dealers and 
broker-dealers that are permitted to compute net capital pursuant to 
Appendix E to Exchange Act Rule 15c3-1 to notify the Commission when 
their tentative net capital drops below certain levels.
    To ensure the provision of these types of notices to the 
Commission, Rule 17a-11 requires every national securities exchange or 
national securities association to notify the Commission when it learns 
that a member broker-dealer has failed to send a notice or transmit a 
report required under the Rule.
    Compliance with the Rule is mandatory. The Commission will 
generally not publish or make available to any person notices or 
reports received pursuant to Rule 17a-11. The Commission believes that 
information obtained under Rule 17a-11 relates to a condition report 
prepared for the use of the Commission, other federal governmental 
authorities, and securities industry self-regulatory organizations 
responsible for the regulation or supervision of financial 
institutions.
    The Commission estimates that the total hour burden under Rule 17a-
11 is approximately 274 hours 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 10, 2023.
    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.
    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: August 2, 2023.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-16861 Filed 8-7-23; 8:45 am]
BILLING CODE 8011-01-P


