8 Sep 2025
📈SEC Rule 17Ad-17
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17Ad-17
Summary
The SEC announces a request for an extension of information collection under Rule 17Ad-17, requiring brokers and transfer agents to search for lost securityholders and notify them. The rule involves maintaining records, incurs significant costs, and impacts a large number of financial entities. Public comments are invited on the proposed collection.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document outlines compliance requirements under Rule 17Ad-17 for broker-dealers and transfer agents, which involve significant information collection and recordkeeping obligations. The estimated annual costs of approximately $6.6 million highlight the financial implications for affected entities.