Rule 17a-14 and Form CRS under the Exchange Act

Forms and Documents

Document Name	Status
3235-0766_2025-21393.pdf Supplementary Document	2026-01-30
20260130_3235-0766_2026-01889_91 FR 4128_30-Day Submission Notice.pdf.pdf Supplementary Document	2026-01-30
2025 Rule 17a-14 Supporting Statement.pdf Supporting Statement A	2025-12-09

IC Document Collections

IC ID	Document Title	Status
278386	Communicating Changes to Amended Form CRS, Including Delivery	New
278385	Amending Form CRS and Filing and Posting Amendments	New
278384	Additional Delivery of Form CRS to Existing Customer	New
278383	Delivery of Form CRS to New Customers of Prospective New Customers	New
278382	Initial Preparation, Filing, and Posting of the Form CRS by Newly Registered Broker-Dealers	New
231405	Rule 17a-14 and Form CRS under the Securities Exchange Act of 1934	Modified

ICR Details

OMB Control No: 3235-0766	ICR Reference No: 202511-3235-004
Status: Received in OIRA	Previous ICR Reference No: 202211-3235-002
Agency/Subagency: SEC	Agency Tracking No: TM
Title: Rule 17a-14 and Form CRS under the Exchange Act
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 01/30/2026

	Requested	Previously Approved
Expiration Date	36 Months From Approved	04/30/2026
Responses	9,075	2,550
Time Burden (Hours)	7,424,299	6,098,916
Cost Burden (Dollars)	142,554	181,194

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Abstract: Rule 17a-14 and Form CRS require a broker-dealer that offer services to retail investors to prepare, file with the Commission through WebCRD, post to the broker-dealer’s website (if it has one), and deliver to retail investors a relationship summary. Broker-dealers are required to deliver the relationship summary to both existing customers and new or prospective new customers who are retail investors. The collection of information is necessary to provide broker-dealer customers, prospective customers, and the Commission with information about the broker-dealer and its business, conflicts of interest and personnel. The Commission uses the information to manage its regulatory and examination programs. Retail customers can use the information to determine whether to hire or retain a broker-dealer, as well as what types of accounts and services are appropriate for their needs.

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Authorizing Statute(s): PL: Pub.L. 111 - 203 913(f) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 15 USC 78j Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78c Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78w Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78mm Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: US Code: 15 USC 80b Name of Law: Investment Advisers Act of 1940
US Code: 15 USC 78a Name of Law: Securities Exchange Act of 1934

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 54832	11/28/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	91 FR 4128	01/30/2026
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
Additional Delivery of Form CRS to Existing Customer
Amending Form CRS and Filing and Posting Amendments
Communicating Changes to Amended Form CRS, Including Delivery
Delivery of Form CRS to New Customers of Prospective New Customers
Initial Preparation, Filing, and Posting of the Form CRS by Newly Registered Broker-Dealers
Rule 17a-14 and Form CRS under the Securities Exchange Act of 1934

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	9,075	2,550	0	0	6,525	0
Annual Time Burden (Hours)	7,424,299	6,098,916	0	0	1,325,383	0
Annual Cost Burden (Dollars)	142,554	181,194	0	0	-38,640	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Even though the Commission has decreased its estimate of currently registered broker-dealers from 2,550 to 2,234 and each of these existing registered broker-dealers has already incurred its one-time initial hour burdens, the total burden has increased from 6,098,916 to 7,424,299. The increase in hour burden is due to growth in the customer base of broker-dealers with retail activity, as well as an increase in the number of retail customer accounts. The estimated annual cost burden decreased from $181,194 to $142,554 because the Commission estimates that only about 138 new registrants will incur initial start-up costs over the next three years. We zeroed out the old IC because it aggregated the burdens instead of breaking them out. We believe this version more accurately reflects the burden.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 01/30/2026

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