SEC Renews Broker Affiliate Record Rules
Published Date: 9/12/2025
Notice
Summary
The SEC is asking for comments on extending two important rules that make sure broker-dealers keep track of their risky business activities and report them regularly. About 238 broker-dealers must spend time keeping records and filing reports to help the SEC spot any financial trouble early. This extension keeps things running smoothly without adding new costs or big changes, just continuing the current process.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Mandatory broker‑dealer recordkeeping continues
The SEC is proposing to extend Rules 17h-1T and 17h-2T, which require covered broker‑dealers to maintain records about affiliates and file regular reports. There are currently 238 covered broker‑dealers; each is estimated to spend 10 hours per year on Rule 17h-1T recordkeeping and five annual responses under Rule 17h-2T that together require 14 hours per year, contributing to an industrywide compliance burden.
EDGAR e‑filing and Inline XBRL adds burden
Amendments adopted in 2024 require broker‑dealers subject to Rule 17h-2T to file Form 17h-2T electronically on EDGAR and to file part of the form using Inline XBRL. The SEC estimates an average additional burden of 2 hours per response four times a year (8 hours per respondent per year), amounting to 1,904 industrywide hours (238 respondents x 8 hours).
Small setup burden for new broker‑dealer filers
The SEC estimates there will be four new respondents who must draft an organizational chart (1 hour) and establish a compliance system (3 hours). The notice states a corresponding estimated burden of four hours for new respondents.
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