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16-05 SEC No-Action Guidance on Electronic Filing of Broker-Dealer Annual Reports

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Electronic Filing of Broker-Dealer Annual Reports

Regulatory Notice
Notice Type

Guidance
Referenced Rules & Notices

Regulatory Notice 11-46
SEA Rule 17a-5
SEA Rule 17a-12
Suggested Routing

Accounting
Compliance
Finance
Legal
Regulatory Reporting
Senior Management
Key Topics

Annual Report
Electronic Filing

Executive Summary

This Notice provides firms with information regarding a no-action letter1 issued by the staff of the Division of Trading and Markets of the Securities and Exchange Commission (the SEC staff) regarding electronic filing of the annual and supplemental reports required under SEA Rules 17a-5 and 17a-12.

Questions concerning this Notice should be directed to:

•    Yui Chan, Managing Director, Risk Oversight and Operational Regulation (ROOR), at (646) 315-8426; or
•    Susan DeMando Scott, Associate Vice President, ROOR, at (240) 386-4620.

Background & Discussion

Broker-dealers are required to file annual and supplemental reports under SEA Rule 17a-5 and over-the-counter (OTC) derivatives dealers are required to file annual and supplemental reports under SEA Rule 17a-12. Under SEA Rules 17a-5 and 17a-12, these reports are required to be filed with the SEC in paper form. The annual reports required under SEA Rule 17a-5 must be filed with FINRA electronically.2

Pursuant to the SEC staff's no-action letter, broker-dealers and OTC derivative dealers may file the required annual and supplemental reports with the SEC electronically, in lieu of filing the reports with the SEC in paper form. The reports must be filed electronically through the SEC's Electronic Data Gathering, Analysis and Retrieval (EDGAR) system in accordance with the instructions and conditions contained in the Appendix to the no-action letter.

Filers with procedural and technical questions can contact the SEC's electronic filer support at (202) 551-8900 (option 3). Technicians are available from 9 a.m.–5:30 p.m. Eastern Time Monday to Friday or at filertechunit@sec.gov.

Further information concerning electronic filing of broker-dealer annual reports can be found on the SEC's website.

Substantive questions regarding a broker-dealer's filing requirements should be directed to the Division of Trading and Markets by calling (202) 551-5777 or by emailing tradingandmarkets@sec.gov.


1 See letter from Michael A. Macchiaroli, Associate Director, Division of Trading and Markets, Securities and Exchange Commission, to Kris Dailey, Vice President, Risk Oversight & Operational Regulation, FINRA (December 21, 2015), available on the SEC website.

2 See Regulatory Notice 11-46 (Annual Audit Reports: FINRA to Require Electronic Submission of Annual Audit Reports) (October 2011).


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