SEC seeks OMB extension for Rule 17f-1 information collection

The Securities and Exchange Commission has submitted to the Office of Management and Budget a request to extend the previously approved information collection for Rule 17f-1, 17 CFR 270.17f-1, which governs custody of securities with members of national securities exchanges. The extension applies to registered management investment companies that place assets in the custody of an exchange member.

Rule 17f-1 requires a written custodial contract that must be ratified initially and approved annually by a majority of the fund's board of directors. An independent public accountant must examine the fund's assets in custody at least three times during the fiscal year, and the contract and each examination certificate must be transmitted to the Commission.

Commission staff estimate each fund makes one response and spends an average of 3.5 hours annually complying with the rule, including 0.5 hours for board review and 3 hours for the fund's controller to assist auditors. With an estimated four funds relying on the rule, the total internal hour burden is approximately 14 hours. External costs are estimated at $1,548 per fund for outside counsel (2 hours at $774) and $11,550 per fund for independent public accountant services (35 hours at $330), for a total annual cost of $13,098 per fund and $52,392 for all four funds.

The public may view and comment on the collection request at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202608-3235-011 or email MBX.OMB.OIRA.SEC_desklowbar;officercommat;omb.eop.gov. Comments must be received within 30 days of publication, by November 30, 2026. Responses will not be kept confidential.

The notice, identified by OMB Control No. 3235-0222 and FR Doc No. 2026-22001, is dated October 26, 2026 and signed by Assistant Secretary Sherry R. Haywood.