SEC Polls Firms on Hidden Costs of Fighting Dirty Money
Published Date: 1/23/2026
Notice
Summary
The SEC is asking certain financial companies to take a one-time, 8-hour survey about how much it costs them to follow anti-money laundering rules. This survey is voluntary and aims to help the SEC understand compliance costs better, possibly leading to simpler rules in the future. About 4,600 broker-dealers and mutual funds might respond, with no penalties or public sharing of individual answers.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
One‑time 8‑Hour Survey for Firms
The SEC is asking about 3,289 registered broker‑dealers and 1,355 registered mutual funds to voluntarily complete a one‑time survey that the staff estimates will take about eight hours per respondent. If all respond, the SEC estimates a total burden of 37,152 hours; responding is voluntary and each entity would complete the survey only once.
Survey May Inform Deregulatory Action
The SEC states the survey data may inform efforts to adjust BSA AML/CFT regulatory obligations and support deregulatory rulemakings or guidance intended to reduce compliance burden without compromising effectiveness. The notice links this work explicitly to informing potential deregulatory proposals.
Responses Protected From Public Disclosure
The SEC says individual survey responses will not generally be published or made publicly available and will not be used for examination or enforcement purposes, subject to the Freedom of Information Act and SEC rules. That means firms' answers are intended to remain confidential when the SEC analyzes the survey results.
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Key Dates
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