[Federal Register Volume 85, Number 153 (Friday, August 7, 2020)]
[Notices]
[Page 48052]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-17259]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-155, OMB Control No. 3235-0123]
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Extension:
Rule 17a-5
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget (``OMB'') a request for approval of extension of the
previously approved 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.).
Rule 17a-5 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 an
annual audited report of financial statements.
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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 FOCUS Report consists of: (1) Part I, which is a monthly report
that must be filed by brokers or dealers that clear transactions or
carry customer securities; (2) one of three alternative quarterly
reports: Part II, which must be filed by brokers or dealers that clear
transactions or carry customer securities; Part IIA, which must be
filed by brokers or dealers that do not clear transactions or carry
customer securities; and Part IIB, which must be filed by specialized
broker-dealers registered with the Commission as OTC derivatives
dealers; \2\ (3) supplemental schedules, which must be filed annually;
and (4) a facing page, which must be filed with the annual audited
report of financial statements. Under the rule, a broker or dealer that
computes certain of its capital charges in accordance with Appendix E
to Exchange Act Rule 15c3-1 must file additional monthly, quarterly,
and annual reports with the Commission.
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\2\ Part IIB of Form X-17A-5 must be filed by OTC derivatives
dealers under Exchange Act Rule 17a-12 and is subject to a separate
PRA filing (OMB control number 3235-0498).
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The Commission estimates that the total hour burden under Rule 17a-
5 is approximately 328,746 hours per year when annualized, and the
total cost burden under Rule 17a-5 is approximately $35,287,127 per
year.
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 within 30 days of publication of this notice
to (i) >[email protected]< and (ii) David
Bottom, Director/Chief Information Officer, Securities and Exchange
Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549,
or by sending an email to: [email protected].
Dated: August 3, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-17259 Filed 8-6-20; 8:45 am]
BILLING CODE 8011-01-P