8 Jul 2025
📊SEC Proposes Extension for Form Custody Filing Compliance
Submission for OMB Review; Comment Request; Extension: Form Custody
Summary
The SEC is requesting an extension for the collection of information related to Form Custody, which requires broker-dealers to report on asset custody. This process is crucial for regulatory oversight and entails significant compliance costs, impacting approximately 3,470 entities in the securities industry. Comments are invited to enhance the collection's quality and feasibility.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The text pertains to compliance and regulatory requirements, specifically Form Custody filings for broker-dealers, which have a significant annual reporting burden and associated costs. This implies potential financial impacts for businesses in the securities industry.