The Division of Trading and Markets (Division) of the Securities and Exchange Commission has updated its no-action relief to broker-dealers and over-the-counter (OTC) derivatives dealers from the requirement to file annual and supplemental reports with the SEC in paper form. The Division had previously issued a no-action letter in December 2015 that provided relief to broker-dealers and OTC derivatives dealers from the requirement to file the reports in paper form so long as the reports are filed using the SEC’s EDGAR system. The 2015 letter detailed the procedures for filing reports using the EDGAR system.

The SEC subsequently updated its EDGAR system, accordingly, the Division has updated its no-action relief to allow broker-dealers and OTC derivatives dealers to file the reports using the EDGAR system in one of two ways:

• the broker-dealer or OTC derivatives dealer may attach one document containing all of the annual reports as a public document; or
• the broker-dealer or OTC derivatives dealer may attach two documents to its submission: a public document containing the statement of financial condition, the notes to the statement of financial condition, and the accountant’s report which covers the statement of financial condition; and a non-public document containing all of the components of the annual reports.

The Division’s latest no-action letter is available here.