Broker-Dealers' Account Info Collection Extended: Protecting Investors, Zzz
Published Date: 4/13/2026
Notice
Summary
The SEC is asking to keep collecting info from broker-dealers about how they handle customer orders and any payments they get for routing those orders. This affects over 3,300 firms and more than 330 million customer accounts, with firms spending about 78 hours a year on this. The goal? To keep investors informed and protected, with no new costs or big changes coming.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
3,342 Firms and 330M Accounts Covered
The SEC estimates that about 3,342 broker-dealer respondents will provide the required disclosures to 330,297,553 customer accounts each year. The Commission estimates an average burden of 77.918 hours per respondent per year, for a total aggregated annual burden of 260,401.956 hours.
Broker Disclosures of Payment-for-Order-Flow
Broker-dealers must tell you, on each new account and on every annual statement, their policies about receiving payment for order flow and the total payments, discounts, rebates, or fee reductions the firm received over the past year under Rule 607 (17 CFR 242.607). This rule applies as a continuing information collection under the Exchange Act and is intended to make customers aware of firms' order-routing practices.
Collection Is Mandatory and Non-Confidential
The information collection under Rule 607 is mandatory for all respondents and does not require collection of confidential information. The SEC submitted an extension request to OMB to continue the existing collection under the Paperwork Reduction Act (OMB Control No. 3235-0435).
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Key Dates
Department and Agencies
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