SEC Proposes Extension of Broker Customer Account Reporting Rules
Published Date: 4/13/2026
Notice
Summary
The SEC is asking to keep collecting info from broker-dealers about how they handle customer orders and payments they get for routing those orders. This affects over 3,300 firms and more than 330 million customer accounts, with firms spending about 78 hours a year on this. The goal? To keep investors informed and protected, with public comments open until May 14, 2026.
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Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Compliance Time Burden on Broker-Dealers
The SEC estimates approximately 3,342 broker-dealer respondents will spend an average of 77.918 hours per year complying with the Rule 607 disclosure requirements, for an aggregate annual burden of 260,401.956 hours. The collection is mandatory for all respondents but does not require collecting confidential information.
Broker-Dealer Payment-for-Flow Disclosure
Rule 607 (17 CFR 242.607) requires broker-dealers to disclose, on each new account and on the annual statement thereafter, their policies about receiving payment for order flow and the aggregate monetary payments, discounts, rebates, or fee reductions received over the past year. The SEC estimates this information touches 3,342 firms and 330,297,553 customer accounts and the rule is mandatory for respondents.
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