Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 10b-10
Published Date: 1/30/2026
Notice
Summary
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!
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Large Time and Cost Burden on Broker-Dealers
The Commission estimates Rule 10b-10 applies to about 3,292 registered broker-dealers and that firms generate about 36,202,574,610 confirmations per year. Staff estimates the annual compliance burden is about 301,688,122 hours and about $25,070,282,919 in total annual costs (about $0.85 per paper confirmation and $0.40 per wholly electronic confirmation). Approximately 65% of confirmations are paper and 35% are wholly electronic.
Detailed Trade Confirmations Required
If you buy or sell securities through a broker, the rule requires your broker-dealer to give you a confirmation showing the date and time of the trade, the identity and number of shares, the price, and whether the broker acted as agent or principal. The rule applies to transactions covered by Rule 10b-10 (17 CFR 240.10b-10) and the Commission estimates about 36,202,574,610 confirmations are sent to customers each year.
SIPC Membership Disclosure Required
Broker-dealers must tell customers on confirmations if the firm is not a member of the Securities Investor Protection Corporation (SIPC). This disclosure is required by Rule 10b-10 and appears on the transaction confirmations sent to customers.
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Key Dates
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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.
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The Federal Transit Administration (FTA) is setting up a special Emergency Relief Docket for 2026. This lets transit groups ask for temporary breaks from rules if a big emergency or disaster hits. If that happens, affected groups can quickly request help, making it easier to respond without getting stuck in paperwork.
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