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

The Securities and Exchange Commission published a notice on Oct. 23, 2026 (FR Doc 2026-21637) announcing an extension of the proposed collection of information under rule 17g-1. The request is submitted to the Office of Management and Budget under OMB Control No. 3235-0213.

Rule 17g-1, enacted under section 17(g) of the Investment Company Act of 1940, requires officers and employees of registered management investment companies who have access to securities or funds to be bonded by a reputable fidelity insurance company. The bond amount must be approved annually by a majority of the fund's independent directors and cannot be less than the minimum coverage based on the fund's gross assets. The bond may not be cancelled, terminated, or modified without 60 days' written notice to the Commission and the affected parties.

Upon execution or amendment of a fidelity bond, a fund must file with the Commission within 10 days a copy of the bond, the directors' resolution, and a statement of the premium period. For joint insured bonds, additional statements and recovery agreements are required. The Commission's most recent amendment in 2004 added a requirement that the fund's board satisfy governance standards defined in rule 0-1(a)(7). All requirements are mandatory for funds.

The Commission estimates that approximately 2,078 funds - registered open- and closed-end funds and business development companies - must comply, submitting an estimated 2,437 filings on Form 17G annually. The estimated annual burden is 2,437 hours for compliance attorneys ($1,886,238) and 2,437 hours for fund boards ($29,697,282), totaling 4,874 hours and $31,583,520 in internal costs. No external cost burdens are anticipated.

Comments on the information collection request must be submitted by Nov. 23, 2026, either through the RegInfo website or by email to the protected address listed in the notice.