SEC Extends Financial Firm Reporting Rule: Yawn, Business as Usual
Published Date: 12/16/2025
Notice
Summary
The SEC is asking for comments on extending a rule that makes certain financial dealers confirm and verify their trades quickly to keep the market running smoothly. About 48 security-based swap dealers must follow this rule, which takes around 22,848 hours total each year. No big changes or extra costs are expected, but the SEC wants to hear ideas on making the process easier and clearer.
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Previous: 2025-22947, Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 204-2
The SEC is asking for comments on extending Rule 204-2, which requires investment advisers to keep certain records for at least five years. This rule affects over 15,900 advisers and involves a big time commitment—almost 3 million hours total each year. The SEC wants to make sure the rule still works well and isn’t too much of a hassle before renewing it.
Next: 2025-22951, Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Form N-8B-4
The SEC is asking for comments to keep using Form N-8B-4, which face-amount certificate companies fill out to share important info about their business and finances. Only two companies are affected, and usually just one files this form each year. There’s no big change or cost impact, just a smooth extension to keep things running on schedule.