SEC Proposes Extension of Underwriter Record-Keeping Rule
Published Date: 3/18/2026
Notice
Summary
The SEC is asking to keep the current rule that makes underwriters keep records about certain stock market activities for three years. About 647 companies spend around 3,235 hours and $530,000 yearly to follow this rule. They want to extend this rule without changes, so everyone stays on the same page and the SEC can keep an eye on things.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Three-Year Recordkeeping Continues
The SEC will keep Rule 17a-2 in place so underwriters must keep records of stabilizing activities for three years, with the first two years kept in an easily accessible place. The rule is being extended without changes so the Commission can continue to get information about syndicate covering transactions and penalty bids.
Estimated Annual Compliance Burden
About 647 respondents spend a total of approximately 3,235 hours per year complying with Rule 17a-2, with each respondent making one annual response that takes about 5 hours. The Commission estimates total internal compliance costs of about $530,540 per year, or roughly $820 per respondent per response.
Records Generally Not Kept Confidential
Except for information required under Rule 104(i) and Rule 17a-2(c), the information collected under Rule 17a-2 will not be kept confidential for Paperwork Reduction Act purposes. The Commission may review these records during periodic examinations or in investigations.
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