What is SEC Form X-17A-5
SEC Form X-17A-5 is a financial reporting form that all broker-dealers who are registered with the U.S. Securities and Industry Rate (SEC) must whole. This sort consists of three parts and contains an annual audit that are meant to be performed thru a licensed public accountant (CPA).
Breaking Down SEC Form X-17A-5
SEC Form X-17A-5 must be crammed out thru all broker-dealers which may well be registered with the SEC, as mandated thru Section 17 of the Securities Industry Act of 1934 Rule 17a-10(a)(1). The form is used to report a broker-dealer’s financial and working must haves. Section I of SEC Form X-17A-5 contains commonplace information about the registrant, along with operational capital worth items which may well be designed to measure positive monetary and financial characteristics of the registrant. Section II contains the annual audit, and Section III contains identification information about the registrant and the accountant.
The SEC calls this fashion a Financial and Operational Combined Uniform Single (FOCUS) Report, as it items a mixture of the financial and operational neatly being of a broker-dealer who is registered with the SEC. As of 2020, broker-dealers, in conjunction with those registered as over-the-counter (OTC) derivatives dealers, can voluntarily report the ones forms electronically during the SEC’s Virtual Wisdom Gathering, Analysis, and Retrieval (EDGAR) device in lieu of filing paper critiques.
Because of Form X-17A-5 contains a variety of schedules and amendments, broker-dealers may have to try the SEC’s website periodically for any changes paying homage to exemptions, filing dates, prerequisites, or other amended information, then again samples of the current form will also be found out proper right here:
