SEC Updates Filing Threshold to Rule 17h Reporting Requirements for Broker-Dealers

The Securities and Exchange Commission today issued an order to update the filing threshold for broker-dealers’ Form 17-H filings made pursuant to Exchange Act Rules 17h-1T and Rule 17h-2T. The threshold, which had not been updated in nearly 30 years, will exempt certain smaller broker-dealers from the reporting requirements of the rules while continuing to provide important information to the Commission on the financial condition of covered broker-dealers and their affiliates. The order follows the recommendation of the SEC’s Office of Inspector General, published earlier this year, that raising the reporting threshold would, among other things, increase the overall efficiency of the Form 17-H filing intake and review processes and reduce the reporting burden on smaller broker-dealer firms.