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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The SEC is asking to keep the rules in Regulation S-AM that protect consumers from unwanted marketing by financial companies linked to their affiliates. About 2,282 companies must give clear notices and easy ways for people to say no to these ads, while around 12,781 companies spend a little time checking their marketing practices. This update keeps things running smoothly without adding new costs or big changes.
Next: 2026-01890, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 10b-10
The SEC is asking to keep Rule 10b-10 going, which makes sure brokers give customers clear details about their stock trades, like dates, prices, and fees. This rule affects anyone buying or selling stocks through a broker and helps keep things transparent without adding new costs or deadlines. It’s all about making sure you get the info you need to understand your investments better!