Form X-17A-5 API - FOCUS Reports

The Form X-17A-5 API - FOCUS Reports filters and retrieves Form X-17A-5 filings submitted to the SEC EDGAR database. The API accepts search queries as JSON-formatted payloads and returns matching filings as structured JSON.

Form X-17A-5, commonly referenced as the FOCUS Report (Financial and Operational Combined Uniform Single Report), is filed by SEC-registered broker-dealers and security-based swap dealers under Rule 17a-5 of the Securities Exchange Act of 1934. Broker-dealers submit the form on a monthly, quarterly, and annual cadence to disclose financial condition, net capital computations, and operational data to the SEC and to their designated self-regulatory organization. The annual variant additionally carries the audited financial statements and the independent public accountant's report covering the broker-dealer's most recent fiscal year.

Form X-17A-5 filings include:

Reporting entities: Form X-17A-5 filings list the reporting entities associated with the FOCUS report, typically the broker-dealer or security-based swap dealer registrant, with CIK, IRS number, SEC file number, SIC code, and state-of-incorporation details.
Registrant identification: The registrant-identification block carries the broker-dealer's legal name, business address, and the contact person designated for the filing.
Submission information: Submission-level metadata covers the reporting period, registrant type and sub-type classifications, the material-weakness flag, and any amendment description supplied by the filer.
Accountant identification: The accountant-identification block identifies the independent public accountant attached to the FOCUS report, including firm name, accountant classification, and mailing address.
Oath and signature: The oath-or-affirmation block records the attestation executed by a registrant officer under Rule 17a-5, capturing signer name, title, signature date, notarization flag, and any optional exception explanation.

Example of Form X-17A-5 API - FOCUS Reports response in JSON Format


          1
          {
        

          2
              "id": "2f89918f3badf6faecb1f53b7ea7406a",
        

          3
              "formType": "X-17A-5",
        

          4
              "accessionNo": "0000068136-20-000004",
        

          5
              "filedAt": "2020-03-02T13:46:03-05:00",
        

          6
              "periodOfReport": "2019-12-31",
        

          7
              "entities": [
        

          8
                {
        

          9
                  "fiscalYearEnd": "1231",
        

          10
                  "stateOfIncorporation": "DE",
        

          11
                  "act": "34",
        

          12
                  "cik": "68136",
        

          13
                  "fileNo": "008-15869",
        

          14
                  "irsNo": "132655998",
        

          15
                  "companyName": "MORGAN STANLEY & CO. LLC (Filer)",
        

          16
                  "type": "X-17A-5",
        

          17
                  "filmNo": "20675943"
        

          18
                }
        

          19
              ],
        

          20
              "submissionInformation": {
        

          21
                "periodBegin": "01-01-2019",
        

          22
                "periodEnd": "12-31-2019",
        

          23
                "materialWeakness": "N"
        

          24
              },
        

          25
              "registrantIdentification": {
        

          26
                "brokerDealerName": "MORGAN STANLEY & CO. LLC",
        

          27
                "businessAddress": {
        

          28
                  "street1": "1585 BROADWAY",
        

          29
                  "city": "NEW YORK",
        

          30
                  "stateOrCountry": "NY",
        

          31
                  "zipCode": "10036-8293"
        

          32
                },
        

          33
                "contactPersonName": "Gary Lynn",
        

          34
                "contactPersonPhoneNumber": "212-276-4914"
        

          35
              },
        

          36
              "accountantIdentification": {
        

          37
                "accountantName": "Deloitte & Touche LLP",
        

          38
                "accountantAddress": {
        

          39
                  "street1": "30 Rockefeller Plaza",
        

          40
                  "city": "New York",
        

          41
                  "stateOrCountry": "NY",
        

          42
                  "zipCode": "10112-0015"
        

          43
                },
        

          44
                "accountantType": "Certified Public Accountant"
        

          45
              },
        

          46
              "oathSignature": {
        

          47
                "signPersonName": "Gary Lynn",
        

          48
                "entityName": "MORGAN STANLEY & CO. LLC",
        

          49
                "signDate": "12-31-2019",
        

          50
                "signature": "Gary Lynn",
        

          51
                "oathTitle": "Managing Director",
        

          52
                "confirmNotarizedFlag": "Y"
        

          53
              }
        

          54
          }

Dataset size:

More than 16,500 Form X-17A-5 filings originally filed in XML format since January 2016 to present.

Data update frequency:

New filings are indexed and searchable within 300 milliseconds of being published on EDGAR.

Survivorship bias free:

Yes. The dataset includes all X-17A-5 filings, covering listed and delisted companies.

API Endpoint

Form X-17A-5 API - FOCUS Reports Search API

The Form X-17A-5 API - FOCUS Reports Search API allows searching and filtering all X-17A-5 filings from 2016 to present. The API accepts search queries as JSON formatted payload and returns the matching X-17A-5 filings in JSON format. The API endpoint is:

https://api.sec-api.io/form-x-17a-5

Supported HTTP methods: POST

Request and response content type: JSON

Form X-17A-5 API - FOCUS Reports Bulk Dataset Download

The complete set of Form X-17A-5 filings is available for bulk download as compressed JSONL files. Each line in a .jsonl.gz file is the full content of a single filing serialized as structured JSON. The bulk dataset is partitioned by year and month using the filename format YYYY-MM.jsonl.gz.

New FOCUS report filings are appended to the bulk dataset daily between 1:00 AM and 4:00 AM ET.

An accompanying index.json file lists metadata for every .jsonl.gz file in the bulk dataset. Each entry exposes three fields: key, updatedAt, and size.

key (string) - The file path, e.g. 2025/2025-03.jsonl.gz.
updatedAt (date) - The last update timestamp, e.g. 2025-04-03T14:06:34.000Z.
size (integer) - The file size in bytes, e.g. 106764954.

The index.json file supports programmatic access and automation, letting consumers detect updates and manage downloads at scale.

Endpoint	Description	HTTP Method	Response Format
/bulk/form-x-17a-5/YEAR/YEAR-MONTH.jsonl.gz	Gzip-compressed JSONL file containing all X-17A-5 filings for the specified year and month.	GET	jsonl.gz
/bulk/form-x-17a-5/index.json	JSON file containing the paths, file update times and file sizes of all jsonl.gz files of all X-17A-5 data files.	GET	json

Bulk Download Endpoint Examples

https://api.sec-api.io/bulk/form-x-17a-5/2025/2025-02.jsonl.gz
https://api.sec-api.io/bulk/form-x-17a-5/index.json

Authentication

To authenticate API requests, use the API key displayed in your user profile. Utilize the API key in one of two ways. Choose the method that best fits your use case:

Authorization Header: Set the API key as an Authorization header. For instance, before sending a POST request to https://api.sec-api.io/form-x-17a-5, ensure the header is set as follows: Authorization: YOUR_API_KEY. Do not include any prefix like Bearer.
Query Parameter: Alternatively, append your API key directly to the URL as a query parameter. For example, when making POST requests, use the URL https://api.sec-api.io/form-x-17a-5?token=YOUR_API_KEY instead of the base endpoint.

Request Structure

The following request parameters are supported:

query (string) - The search criteria in the format field:value defining the field to search in and the value to search for in this field. The search expression is written in Lucene syntax and supports AND and OR operators. Examples: cik:4568 or filedAt:[2019-01-01 TO 2022-12-31].
from (integer) - Pagination control to specify the starting position of the results. Max: 10000. Default: 0.
size (integer) - The number of Form X-17A-5 FOCUS report filings to be returned in one response. Default: 50. Max: 50.
sort (array) - Specifies the field by which results should be sorted. By default, results are sorted by filedAt in descending order, starting with the most recent filings: [{ "filedAt": { "order": "desc" } }]

Request Examples

Return the two most recent Form X-17A-5 filings for the broker-dealer with CIK 68136.

{
  "query": "entities.cik:68136",
  "from": "0",
  "size": "2",
  "sort": [{"filedAt":{"order":"desc"}}]
}

{
  "query": "entities.cik:68136",
  "from": "0",
  "size": "2",
  "sort": [{"filedAt":{"order":"desc"}}]
}

Retrieve every FOCUS report associated with SEC file number 008-15869, sorted by filing date in descending order.

{
  "query": "entities.fileNo:\"008-15869\"",
  "from": "0",
  "size": "50",
  "sort": [{"filedAt":{"order":"desc"}}]
}

{
  "query": "entities.fileNo:\"008-15869\"",
  "from": "0",
  "size": "50",
  "sort": [{"filedAt":{"order":"desc"}}]
}

List the first five Form X-17A-5 filings submitted to EDGAR during March 2020, sorted by filing date in ascending order.

{
  "query": "filedAt:[2020-03-01 TO 2020-03-31]",
  "from": "0",
  "size": "5",
  "sort": [{"filedAt":{"order":"asc"}}]
}

{
  "query": "filedAt:[2020-03-01 TO 2020-03-31]",
  "from": "0",
  "size": "5",
  "sort": [{"filedAt":{"order":"asc"}}]
}

Return the ten most recent FOCUS reports where the broker-dealer disclosed a material weakness in internal control over financial reporting.

{
  "query": "submissionInformation.materialWeakness:Y",
  "from": "0",
  "size": "10",
  "sort": [{"filedAt":{"order":"desc"}}]
}

{
  "query": "submissionInformation.materialWeakness:Y",
  "from": "0",
  "size": "10",
  "sort": [{"filedAt":{"order":"desc"}}]
}

Response Structure

When the API locates matches within the Form X-17A-5 API - FOCUS Reports database, it returns a JSON response including two fields: total and data. The value field inside the total object indicates the total number of X-17A-5 filings that match the search criteria, while the data field contains an array of X-17A-5 filing objects that match the query. The maximum number of objects inside the data array is determined by the size and limited to 50. Each X-17A-5 filing object comprises the following fields:

id (string) - System-internal unique identifier of the filing record.
formType (string) - Form type assigned to the Form X-17A-5 FOCUS report submission, either X-17A-5 for the original filing or X-17A-5/A for an amendment.
accessionNo (string) - Unique SEC EDGAR accession number of the FOCUS report submission, e.g. 0000068136-20-000004.
effectivenessDate (date) - Date on which the Form X-17A-5 filing became effective on EDGAR, formatted YYYY-MM-DD, e.g. 2020-03-02.
filedAt (date) - Timestamp when the FOCUS report was accepted by SEC EDGAR, e.g. 2020-03-02T13:46:03-05:00.
periodOfReport (date) - Reporting period covered by the Form X-17A-5 filing, formatted YYYY-MM-DD, e.g. 2019-12-31.
entities (array of object) - Array of entities associated with the Form X-17A-5 filing, typically the broker-dealer or security-based swap dealer registrant filing under Rule 17a-5.
- companyName (string) - Legal name of the reporting entity as registered with the SEC, including the EDGAR role suffix, e.g. MORGAN STANLEY & CO. LLC (Filer).
- cik (string) - Central Index Key (CIK) of the reporting entity, zero-padded to ten digits, e.g. 0000068136.
- irsNo (string) - IRS Employer Identification Number (EIN) of the reporting entity, e.g. 132655998.
- stateOfIncorporation (string) - Two-letter U.S. state or country code where the entity is legally incorporated, e.g. DE for Delaware.
- fiscalYearEnd (string) - Fiscal year-end of the reporting entity as a four-digit month-day, e.g. 1231 for December 31.
- type (string) - Filing type recorded for the entity on this submission, e.g. X-17A-5 or X-17A-5/A.
- act (string) - Regulatory act under which the entity files, e.g. 34 for the Securities Exchange Act of 1934.
- fileNo (string) - SEC file number tracking the broker-dealer registrant across filings, e.g. 008-15869.
- filmNo (string) - Film number assigned by the SEC to uniquely identify this specific FOCUS report submission, e.g. 20675943.
- sic (string) - Standard Industrial Classification (SIC) code assigned to the entity, e.g. 6162 for Mortgage Bankers and Loan Correspondents.
- tickers (string) - Stock ticker symbol associated with the entity when available, e.g. MS; typically empty for non-public broker-dealer filers.
accountantIdentification (object) - Identification of the independent public accountant whose report accompanies the Form X-17A-5 filing under Rule 17a-5.
- accountantAddress (object) - Mailing address of the independent public accountant identified on the FOCUS report.
  - city (string) - City of the accountant's office address, e.g. New York.
  - stateOrCountry (string) - Two-letter U.S. state or country code of the accountant's office, e.g. NY.
  - street1 (string) - First line of the accountant's street address, e.g. 30 Rockefeller Plaza.
  - street2 (string) - Second line of the accountant's street address, e.g. a suite or floor designation like Suite 2000.
  - zipCode (string) - Postal code of the accountant's office address, e.g. 10017.
- accountantName (string) - Name of the independent public accountant or audit firm, e.g. Deloitte & Touche LLP.
- accountantType (string) - Classification of the accountant, one of Certified Public Accountant or Certified Public Accountant not resident in United States or any of its possessions.
oathSignature (object) - Oath or affirmation block executed by an officer of the broker-dealer attesting to the truth and correctness of the FOCUS report, as required under Rule 17a-5.
- confirmNotarizedFlag (string) - Single-character flag indicating whether the oath was notarized, either Y or N.
- entityName (string) - Name of the entity on whose behalf the oath is given, e.g. MORGAN STANLEY & CO. LLC.
- explanation (string) - Optional free-text explanation accompanying the oath, often used to note exceptions or report that there are none, e.g. None.
- oathTitle (string) - Title of the officer executing the oath, e.g. Chief Financial Officer or Managing Director.
- signDate (string) - Date on which the oath was signed, formatted MM-DD-YYYY, e.g. 12-31-2019.
- signPersonName (string) - Name of the officer who signed the oath, e.g. Gary Lynn.
- signature (string) - Typed signature string captured for the oath, typically matching signPersonName.
registrantIdentification (object) - Identification of the broker-dealer or security-based swap dealer registrant filing the FOCUS report.
- brokerDealerName (string) - Legal name of the broker-dealer registrant filing the FOCUS report, e.g. MORGAN STANLEY & CO. LLC.
- businessAddress (object) - Primary business address of the broker-dealer registrant.
  - city (string) - City of the registrant's business address, e.g. NEW YORK.
  - stateOrCountry (string) - Two-letter U.S. state or country code of the registrant's business address, e.g. NY.
  - street1 (string) - First line of the registrant's business street address, e.g. 1585 BROADWAY.
  - street2 (string) - Second line of the registrant's business street address, e.g. a floor or suite designation like 26TH FLOOR.
  - zipCode (string) - Postal code of the registrant's business address, e.g. 10017.
- contactPersonName (string) - Name of the contact person at the registrant for questions about the FOCUS report, e.g. Gary Lynn.
- contactPersonPhoneNumber (string) - Phone number of the contact person at the registrant, e.g. 212-276-4914.
submissionInformation (object) - Submission-level metadata describing the FOCUS report period, registrant classification, and any amendment or material weakness disclosures.
- amendmentDescription (string) - Free-text description of the amendment when the filing is an X-17A-5/A, explaining what was changed relative to the prior submission.
- materialWeakness (string) - Single-character flag indicating whether the accountant identified a material weakness, either Y or N.
- periodBegin (string) - Start date of the reporting period covered by the FOCUS report, formatted MM-DD-YYYY, e.g. 01-01-2019.
- periodEnd (string) - End date of the reporting period covered by the FOCUS report, formatted MM-DD-YYYY, e.g. 12-31-2019.
- subTypeOfBDRegistrant (string) - Sub-classification of the broker-dealer registrant when applicable, e.g. OTC derivatives dealer.
- subTypeOfRegistrant (string) - Generic sub-classification of the registrant when not split into BD/SD-specific fields, e.g. OTC derivatives dealer.
- subTypeOfSDRegistrant (string) - Sub-classification of the security-based swap dealer registrant when applicable, e.g. Filing pursuant to a Commission substituted compliance order.
- typeOfRegistrant (object) - Classification of the registrant filing the FOCUS report, split between broker-dealer and security-based swap dealer designations.
  - typeOfBDRegistrant (string) - Broker-dealer registrant type, typically Broker-dealer.
  - typeOfSDRegistrant (string) - Security-based swap dealer registrant type, typically Security-based swap dealer.

Response Example

JSON


          1
          {
        

          2
            "total": {
        

          3
              "value": 10000,
        

          4
              "relation": "gte"
        

          5
            },
        

          6
            "data": [
        

          7
              {
        

          8
                "id": "2f89918f3badf6faecb1f53b7ea7406a",
        

          9
                "formType": "X-17A-5",
        

          10
                "accessionNo": "0000068136-20-000004",
        

          11
                "filedAt": "2020-03-02T13:46:03-05:00",
        

          12
                "periodOfReport": "2019-12-31",
        

          13
                "entities": [
        

          14
                  {
        

          15
                    "fiscalYearEnd": "1231",
        

          16
                    "stateOfIncorporation": "DE",
        

          17
                    "act": "34",
        

          18
                    "cik": "68136",
        

          19
                    "fileNo": "008-15869",
        

          20
                    "irsNo": "132655998",
        

          21
                    "companyName": "MORGAN STANLEY & CO. LLC (Filer)",
        

          22
                    "type": "X-17A-5",
        

          23
                    "filmNo": "20675943"
        

          24
                  }
        

          25
                ],
        

          26
                "submissionInformation": {
        

          27
                  "periodBegin": "01-01-2019",
        

          28
                  "periodEnd": "12-31-2019",
        

          29
                  "materialWeakness": "N"
        

          30
                },
        

          31
                "registrantIdentification": {
        

          32
                  "brokerDealerName": "MORGAN STANLEY & CO. LLC",
        

          33
                  "businessAddress": {
        

          34
                    "street1": "1585 BROADWAY",
        

          35
                    "city": "NEW YORK",
        

          36
                    "stateOrCountry": "NY",
        

          37
                    "zipCode": "10036-8293"
        

          38
                  },
        

          39
                  "contactPersonName": "Gary Lynn",
        

          40
                  "contactPersonPhoneNumber": "212-276-4914"
        

          41
                },
        

          42
                "accountantIdentification": {
        

          43
                  "accountantName": "Deloitte & Touche LLP",
        

          44
                  "accountantAddress": {
        

          45
                    "street1": "30 Rockefeller Plaza",
        

          46
                    "city": "New York",
        

          47
                    "stateOrCountry": "NY",
        

          48
                    "zipCode": "10112-0015"
        

          49
                  },
        

          50
                  "accountantType": "Certified Public Accountant"
        

          51
                },
        

          52
                "oathSignature": {
        

          53
                  "signPersonName": "Gary Lynn",
        

          54
                  "entityName": "MORGAN STANLEY & CO. LLC",
        

          55
                  "signDate": "12-31-2019",
        

          56
                  "signature": "Gary Lynn",
        

          57
                  "oathTitle": "Managing Director",
        

          58
                  "confirmNotarizedFlag": "Y"
        

          59
                }
        

          60
              },
        

          61
              // cut off for brevity
        

          62
            ]
        

          63
          }
        

          64

Response Structure of Bulk Download Endpoints

/bulk/form-x-17a-5/YEAR/YEAR-MONTH.jsonl.gz

Decompressed JSONL Example


          1
          {"accessionNo":"0000068136-20-000004","formType":"X-17A-5","filedAt":"2020-03-02T13:46:03-05:00","submissionInformation": "{...}","registrantIdentification": "{...}","accountantIdentification": "{...}","oathSignature": "{...}"}
        

          2
          { ... }
        

          3
          { ... }

/bulk/form-x-17a-5/index.json

index.json Example


          1
          [
        

          2
              {
        

          3
                  "key": "2026/2026-04.jsonl.gz",
        

          4
                  "updatedAt": "2026-05-01T03:24:11.000Z",
        

          5
                  "size": 2150000
        

          6
              },
        

          7
              {
        

          8
                  "key": "2026/2026-03.jsonl.gz",
        

          9
                  "updatedAt": "2026-04-01T03:18:42.000Z",
        

          10
                  "size": 3480000
        

          11
              },
        

          12
              {
        

          13
                  "key": "2026/2026-02.jsonl.gz",
        

          14
                  "updatedAt": "2026-03-01T03:21:09.000Z",
        

          15
                  "size": 8920000
        

          16
              },
        

          17
              {
        

          18
                  "key": "2026/2026-01.jsonl.gz",
        

          19
                  "updatedAt": "2026-02-01T03:15:33.000Z",
        

          20
                  "size": 142800000
        

          21
              },
        

          22
              // ... more files
        

          23
            ]

Rule 17a-5 Key Aspects

Rule 17a-5 under the Securities Exchange Act of 1934 requires every SEC-registered broker-dealer to file periodic reports of financial and operational condition on Form X-17A-5, known as the FOCUS Report (Financial and Operational Combined Uniform Single Report). The SEC adopted the rule in 1975 to consolidate fragmented broker-dealer reporting into a single uniform filing used by the SEC, self-regulatory organizations, and the Securities Investor Protection Corporation. Rule 17a-5 has been amended multiple times, most notably in 2013 to strengthen audit, custody, and compliance reporting following the 2008 financial crisis.

Provisions of Rule 17a-5

Periodic FOCUS filings:
- Rule 17a-5 requires SEC-registered broker-dealers to submit Form X-17A-5 on monthly, quarterly, and annual schedules depending on firm size, customer activity, and SRO designation.
- Part I captures a monthly snapshot of capital; Part II and Part IIA capture quarterly statements of financial condition, income, and net capital computations.
Annual audited reports:
- Every broker-dealer must file an annual audited report on Form X-17A-5 prepared by a PCAOB-registered independent public accountant.
- The annual filing includes a statement of financial condition, supporting schedules, and either a compliance report or an exemption report depending on whether the broker-dealer carries customer funds or securities.
Net capital and customer protection disclosures:
- Rule 17a-5 requires broker-dealers to disclose computations under Rule 15c3-1 (net capital) and Rule 15c3-3 (customer protection and reserve requirements) inside the FOCUS Report.
- The rule also requires notice filings whenever a broker-dealer's net capital, aggregate indebtedness ratio, or books and records fall below regulatory thresholds.
Applies to:
- All broker-dealers registered with the SEC under Section 15(b) of the Securities Exchange Act of 1934.
- Carrying and clearing firms that hold customer funds or securities, which file the most comprehensive variants of Form X-17A-5.
- Introducing firms and other non-carrying broker-dealers, which file abbreviated Part IIA quarterly reports.
- Members of self-regulatory organizations such as FINRA and the national securities exchanges, which use FOCUS data for member surveillance.

Rationale for Rule 17a-5

Rule 17a-5 gives the SEC, FINRA, and other self-regulatory organizations a uniform view of broker-dealer financial condition, supporting early detection of capital deficiencies and operational weaknesses.
The rule replaced a fragmented set of legacy broker-dealer reporting requirements with a single FOCUS Report, reducing duplicative filings across regulators and standardizing the data definitions used in supervisory analysis.
The 2013 amendments aligned broker-dealer audits with PCAOB standards and added the compliance and exemption reports, strengthening protections for customer assets after deficiencies exposed during the 2008 financial crisis.

Form X-17A-5 Key Terms

Form X-17A-5 sits inside the broker-dealer supervisory framework, and several terms used throughout the filing are specific to that regulatory context. The glossary below defines the concepts that appear most often in Form X-17A-5 records and in Rule 17a-5, mapping field names to their regulatory meaning for engineers consuming the dataset.

FOCUS Report: FOCUS stands for Financial and Operational Combined Uniform Single Report, the uniform financial report that broker-dealers file with the SEC on Form X-17A-5. The FOCUS Report consolidates capital, balance sheet, income, customer protection, and operational data into a single filing consumed by the SEC, FINRA, and other self-regulatory organizations.
Broker-dealer: A broker-dealer is a person or firm registered with the SEC under Section 15 of the Securities Exchange Act of 1934 that effects securities transactions for the account of others (broker) or for its own account (dealer). Broker-dealers are the only filers of Form X-17A-5.
Net capital: Net capital is a liquidity-based measure of a broker-dealer's regulatory capital, computed under SEC Rule 15c3-1 by adjusting net worth for non-allowable assets and applying haircuts to securities positions. Form X-17A-5 reports both the broker-dealer's computed net capital and the minimum net capital required under Rule 15c3-1.
Aggregate indebtedness: Aggregate indebtedness is the total liabilities of a broker-dealer included in the net capital computation under SEC Rule 15c3-1. The ratio of aggregate indebtedness to net capital is one of the financial responsibility metrics disclosed inside Form X-17A-5.
Customer Reserve (Rule 15c3-3): SEC Rule 15c3-3 requires broker-dealers that carry customer accounts to segregate customer funds and securities and to maintain a special reserve bank account. Form X-17A-5 includes the Rule 15c3-3 reserve computation and the related possession-or-control disclosures.
Self-Regulatory Organization (SRO): A self-regulatory organization is a securities industry body, such as FINRA or a national securities exchange, registered with the SEC and exercising front-line supervisory authority over its members. Self-regulatory organizations consume Form X-17A-5 filings to monitor member broker-dealers.
Securities Investor Protection Corporation (SIPC): The Securities Investor Protection Corporation is a non-profit member corporation created by the Securities Investor Protection Act of 1970 that provides limited insurance for customers of failed broker-dealers. Form X-17A-5 includes SIPC membership and assessment disclosures.
Carrying broker-dealer: A carrying broker-dealer is a broker-dealer that holds customer funds or securities and clears trades for its own customers or for introducing firms. Carrying broker-dealers file the most comprehensive variants of Form X-17A-5, including the Rule 15c3-3 customer reserve computation.
Introducing broker-dealer: An introducing broker-dealer is a broker-dealer that solicits customer orders but does not itself hold customer funds or securities, instead routing accounts to a carrying firm under a clearing agreement. Introducing broker-dealers file the abbreviated Part IIA variant of Form X-17A-5.