Notice2025-20181
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17a-13
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 18, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 220 (Tuesday, November 18, 2025)</title>
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[Federal Register Volume 90, Number 220 (Tuesday, November 18, 2025)]
[Notices]
[Page 51802]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-20181]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0035]
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension: Rule 17a-13
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (SEC or ``Commission'') is submitting to the Office of
Management and Budget (``OMB'') this request for an extension of the
proposed collection of information in Rule 17a-13.
Rule 17a-13(b) (17 CFR 240.17a-13(b)) generally requires that at
least once each calendar quarter, all registered brokers-dealers
physically examine and count all securities held and account for all
other securities not in their possession, but subject to the broker-
dealer's control or direction. Any discrepancies between the broker-
dealer's securities count and the firm's records must be noted and,
within seven days, the unaccounted for difference must be recorded in
the firm's records. Rule 17a-13(c) (17 CFR 240.17a-13(c)) provides that
under specified conditions, the count, examination, and verification of
the broker-dealer's entire list of securities may be conducted on a
cyclical basis rather than on a certain date. Although Rule 17a-13 does
not require broker-dealers to file a report with the Commission,
discrepancies between a broker-dealer's records and the securities
counts may be required to be reported, for example, as a loss on Form
X-17a-5 (17 CFR 248.617), which must be filed with the Commission under
Exchange Act Rule 17a-5 (17 CFR 240.17a-5). Rule 17a-13 exempts broker-
dealers that limit their business to the sale and redemption of
securities of registered investment companies and interests or
participation in an insurance company separate account and those who
solicit accounts for federally insured savings and loan associations,
provided that such persons promptly transmit all funds and securities
and hold no customer funds and securities. Rule 17a-13 also does not
apply to certain broker-dealers required to register only because they
effect transactions in securities futures products.
Rule 17a-13 requires the recording of only those differences in the
broker-dealer's records that remain unresolved seven business days
after the date of the examination, count, and verification. The
Commission or the self-regulatory organization (``SRO'') designated as
the broker-dealer's examining authority may examine these recorded
discrepancies in a broker-dealer's records to determine whether they
are the result of the firm's inability to maintain control of its
business.
The information obtained from Rule 17a-13 is used as an inventory
control device to monitor a broker-dealer's ability to account for all
securities held in transfer, in transit, pledged, loaned, borrowed,
deposited, or otherwise subject to the firm's control or direction.
Discrepancies between the securities counts and the broker-dealer's
records alert the Commission and applicable SROs to those firms
experiencing back-office operational issues.
As of December 2024, there were approximately 3,342 active broker-
dealers registered with the Commission. However, given the variability
in their businesses, it is difficult to quantify how many hours per
year each broker-dealer spends complying with Rule 17a-13. As noted,
Rule 17a-13 requires a broker-dealer to account for all securities in
its possession or subject to its control or direction. Many broker-
dealers hold few, if any, securities, while others hold large
quantities. Therefore, the time burden of complying with Rule 17a-13
will depend on respondent-specific factors, including size, number of
customers, and proprietary trading activity. The staff estimates that
the average time spent per respondent is 100 hours per year on an
ongoing basis to maintain the records required under Rule 17a-13. This
estimate takes into account the fact that more than half of the 3,342
respondents--according to financial reports filed with the Commission--
may spend little or no time complying with Rule 17a-13, given that they
do not do a public securities business or do not hold inventories of
securities. For these reasons, the staff estimates that the total
recordkeeping burden per year is approximately 334,200 hours (3,342
respondents x 100 hours/respondent)
The records required to be made by Rule 17a-13 are available only
to Commission examination staff, state securities authorities, and
applicable SROs. Subject to the provisions of the Freedom of
Information Act, 5 U.S.C. 522, and the Commission's rules thereunder
(17 CFR 200.80(b)(4)(iii)), the Commission does not generally publish
or make available information contained in any reports, summaries,
analyses, letters, or memoranda arising out of, in anticipation of, or
in connection with an examination or inspection of the books and
records of any person or any other investigation.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB Control Number.
The public may view and comment on this information collection
request at: <a href="https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202508-3235-002">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202508-3235-002</a> or email comment to
<a href="/cdn-cgi/l/email-protection#f8b5baa0d6b7b5bad6b7b1aab9d6abbdbba79c9d8b93a7979e9e919b9d8ab897959ad69d9788d69f978e"><span class="__cf_email__" data-cfemail="064b445e28494b4428494f544728554345596263756d596960606f65637446696b642863697628616970">[email protected]</span></a> within 30 days of the day
after publication of this notice, by December 19, 2025.
Dated: November 14, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-20181 Filed 11-17-25; 8:45 am]
BILLING CODE 8011-01-P
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