Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17a-14 and Form CRS
Published Date: 1/30/2026
Notice
Summary
The SEC is asking to keep collecting info from broker-dealers who work with everyday investors. These firms must keep sharing easy-to-understand summaries about their services, fees, and any conflicts, helping investors make smart choices. This update keeps the rules going with no big changes, and it costs firms about $142,554 yearly while taking over 7 million hours combined to comply.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Broker-Dealer Compliance Burden Estimate
The SEC estimates the aggregate annual time burden for respondents to comply with Rule 17a-14 and Form CRS is approximately 7,424,299 hours per year and an aggregate annual initial cost burden of approximately $142,554 per year. Firms that must prepare, file, post, and deliver relationship summaries will bear the compliance time and cost reflected in these totals.
Required Investor Relationship Summaries
Broker-dealers that offer services to retail investors must prepare and file a relationship summary through WebCRD, post it on their website (if they have one), and deliver it to retail investors. The summary must describe services, fees and costs, specific conflicts of interest, legal or disciplinary history, and how to get more information so investors can make informed choices.
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