28 Aug 2025
📑SEC Notice on Rule 17a-7 Compliance Requirements
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17a-7
Summary
The SEC is requesting an extension for information collection under Rule 17a-7, requiring non-resident broker-dealers to maintain records in the U.S. This rule impacts their operational obligations and compliance costs, estimated at approximately $18,232 annually for the industry. Public comments on the necessity and burden of this information collection are invited.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The content details compliance requirements for non-resident broker-dealers under Rule 17a-7, necessitating them to maintain records in the U.S. This could impose financial burdens associated with compliance costs, estimated at $18,232 per year for the industry.