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

OMB 3235-0766

OMB 3235-0766

New proposed rule 17a-14 under the Exchange Act [17 CFR 240.17a-14] and Form CRS [17 CFR 249.640] would require a broker-dealer that offer services to retail investors to prepare, file with the Commission, post to the broker-dealer’s website (if it has one), and deliver to retail investors a relationship summary, as discussed in greater detail in Section II above. Broker-dealers would file the relationship summary with the Commission's Electronic Data Gathering, Analysis, and Retrieval system. Broker-dealers also would be required to deliver the relationship summary to both existing customers and new or prospective new customers who are retail investors. New proposed rule 17a-14 under the Exchange Act [17 CFR 240.17a-14] and Form CRS [17 CFR 249.640] contain a collection of information requirement. We will use the information to manage our regulatory and examination programs. Clients can use the information required in Form CRS to determine whether to hire or retain a broker-dealer, as well as what types of accounts and services are appropriate for their needs. 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. This collection of information would be found at 17 CFR 240.17a-14 and 17 CFR 249.640 and would be mandatory. Responses would not be kept confidential.

The latest form for Form CRS and rule 17a-14 under the Exchange Act expires 2023-02-28 and can be found here.

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