SEC Yawns Through Broker Securities Count Rule Extension
Published Date: 8/13/2025
Notice
Summary
The SEC wants to keep Rule 17a-13 going, which makes brokers check their securities every few months to catch any mix-ups. This rule mostly affects brokers who handle lots of securities, but some smaller or special ones are exempt. There’s no new cost or big changes, just a request to keep the rule’s paperwork collection going smoothly.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
Estimated recordkeeping time burden
As of December 2024 there were about 3,342 active broker-dealers; the staff estimates an average of 100 hours per respondent per year to maintain Rule 17a-13 records, for a total estimated recordkeeping burden of approximately 334,200 hours per year (3,342 respondents × 100 hours/respondent).
Quarterly securities count requirement
Registered broker-dealers must physically examine and count all securities at least once each calendar quarter and account for securities under their control or direction. The rule also allows the full list of securities to be counted on a cyclical basis under specified conditions instead of on a single date.
Specified exemptions from Rule 17a-13
Rule 17a-13 exempts broker-dealers that limit their business to selling and redeeming registered investment company securities and interests in insurance company separate accounts, and those who solicit accounts for federally insured savings and loan associations provided they promptly transmit all funds and hold no customer funds or securities. It also does not apply to certain broker-dealers registered only because they effect transactions in securities futures products.
Record unresolved discrepancies and possible reporting
Differences between a broker-dealer's securities count and its records that remain unresolved seven business days after the examination must be recorded in the firm's records. Such recorded discrepancies may need to be reported (for example, as a loss on Form X-17a-5 under Exchange Act Rule 17a-5) and may be examined by the Commission or the firm's designated self-regulatory organization.
Confidentiality of Rule 17a-13 records
Records made under Rule 17a-13 are available only to Commission examination staff, state securities authorities, and applicable self-regulatory organizations, and the Commission generally does not publish or make available information arising from examinations, subject to the Freedom of Information Act and Commission rules.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-05635, Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets
Starting March 23, 2026, the SEC and CFTC are making it clear that some crypto assets and transactions must follow federal securities laws. This means crypto companies and investors need to play by new rules to keep things fair and safe. Expect more transparency and possible costs for compliance as the government steps up oversight in the crypto world.
Previous / Next Documents
Previous: 2025-15310, Notice of Intent To Prepare an Environmental Impact Statement for the Proposed South Railroad Mine Project, Elko County, Nevada
The Bureau of Land Management is starting a big review to see how the new South Railroad Mine in Elko County, Nevada, might affect the environment and local community. This means folks nearby and anyone who cares about nature can share their thoughts soon. The process will help decide if and how the mine moves forward, which could impact jobs, land, and money in the area.
Next: 2025-15313, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 7d-1
The SEC is extending the paperwork rules for foreign investment funds, especially Canadian ones, that want to sell their shares in the U.S. These funds must keep filing certain agreements and info to prove they follow U.S. laws and protect investors. No big changes or costs are coming, but the SEC wants your comments before the extension happens.