Rule 15c2-11, 17 CRF 240.15c2-11 (Publication or submission of quotations without current information)

Forms and Documents

Document Name	Status
3235-0202 30 Day Notice.pdf Supplementary Document	2020-06-09
3235-0202 60 Day Notice.pdf Supplementary Document	2020-06-09
DGL FINAL REVISED 2020 15c2-11 (Existing) Supporting Statement 3-27-2020 w DL cmts + third-party dash.pdf Supporting Statement A	2020-03-30
EDGAR PIA 2016.pdf Supplementary Document	2017-07-28

IC Document Collections

IC ID	Document Title	Status
34565	Rule 15c2-11, 17 CRF 240.15c2-11 (Publication or submission of quotations without current information)	Modified

ICR Details

OMB Control No: 3235-0202	ICR Reference No: 202002-3235-023
Status: Active	Previous ICR Reference No: 201703-3235-002
Agency/Subagency: SEC	Agency Tracking No: TM-270-196
Title: Rule 15c2-11, 17 CRF 240.15c2-11 (Publication or submission of quotations without current information)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/27/2020
	Date Received in OIRA: 06/09/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2023	36 Months From Approved	11/30/2020
Responses	384	0	461
Time Burden (Hours)	2,724	0	2,909
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 15c2-11, adopted September 13, 1971, effective December 13, 1971 (see 36 FR 18641), prohibits broker-dealers from establishing arbitrary quotations for infrequently traded over-the-counter securities and from fraudulent or manipulative trading of the securities of shell corporations by requiring broker-dealers to 1) review information about the issuer when they first publish or resume publishing a quotation for a covered security; 2) document that review; and 3) make the information available to other persons upon request.

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Authorizing Statute(s): US Code: 15 USC 78o(c)(2) and 78w Name of Law: Sections 15(c)(2) and 23(a) of the Securities Exchange Act of 1934.
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 19050	04/03/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 35356	06/09/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Rule 15c2-11, 17 CRF 240.15c2-11 (Publication or submission of quotations without current information)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	384	461	0	0	-77	0
Annual Time Burden (Hours)	2,724	2,909	0	0	-185	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease in total estimated hourly burden results from (i) a difference in the number of information reviews conducted and (ii) the ratio of reporting issuers to non reporting issuers that the information reviews concerned during the years that served as the basis for the estimate. More specifically, because broker-dealers conducted 77 more information reviews during 2016, the period used to determine the prior estimate, than they did in 2019, the hourly burden estimate based on 2019 information reviews is lower. In addition, the ratio of reporting to non-reporting issuers in 2016 was different than in 2019, leading to a different estimated aggregate annual burden (hours).

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 06/09/2020

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