Rule 15c2-11, 17 CRF 240.15c2-11 (Publication or submission of quotations without current information)
Extension without change of a currently approved collection
No
Regular
Approved without change
08/11/2023
06/16/2023
Inventory as of this Action
Requested
Previously Approved
08/31/2026
36 Months From Approved
08/31/2023
5,540
0
5,162
980,529
0
403,411
0
0
0
Rule 15C2-11 (the "Rule") governs the publication of quotations for securities in a quotation medium other than a national securities exchange, i.e., over-the-counter (“OTC”) securities. The Commission adopted amendments to modernize the Rule, promote investor protection, and curb incidents of fraud and manipulation by, among other things: requiring information about issuers to be current and publicly available for broker-dealers to quote their securities in the OTC market; narrowing reliance on certain exceptions from the Rule’s requirements, including the piggyback exception; adding new exceptions for the quotations of securities that may be less susceptible to fraud and manipulation; removing obsolete provisions; adding new definitions; and making technical amendments.
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.
The total aggregate annual hour burden for the collection of information pursuant to the Rule increased from 403,411 hours estimated in the previous submission (reflecting calendar year (“CY”) 2019) to 980,529 hours in this submission (reflecting CY2022). This increase is largely due to increases in the numbers of: (i) respondents subject to burdens associated with the information collection under the Rule (from 82 in CY2019 to 88 in CY2022); (ii) unique OTC securities with at least one published quotation (from 11,542 in CY2019 to 15,449 in CY2022); (iii) unique companies with an OTC security quoted at least once (from 9,895 in CY2019 to 13,214 in CY2022); and (iv) quotations published in reliance on the unsolicited quotation exception in the Rule (from 5,782,286 in CY2019 to 32,277,229 in CY2022).
$0
No
No
No
No
No
No
No
Patrice Pitts 202 551-2151
No
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:
(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;
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.
06/16/2023
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3235-0202.pdf
Recordkeeping obligations of broker-dealers relying on publicly available determinations by qualified IDQSs or registered national securities associations pursuant to paragraph (d)(2)(ii)