Notice2025-22404
Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 15b11-1/Form BD-N
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 10, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 235 (Wednesday, December 10, 2025)</title>
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[Federal Register Volume 90, Number 235 (Wednesday, December 10, 2025)]
[Notices]
[Pages 57236-57237]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-22404]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0556]
Agency Information Collection Activities; Proposed Collection;
Comment Request; Extension: Rule 15b11-1/Form BD-N
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``SEC'' or ``Commission'') is soliciting comments on the
proposed collection of information provided for in Rule 15b11-1 (17 CFR
240.15b11-1) under the Securities Exchange Act of 1934 (``Exchange
Act'') (15 U.S.C. 78a et seq.) and Form BD-N (17 CFR 249.501b).
Rule 15b11-1 provides that a broker or dealer may register by
notice pursuant to Section 15(b)(11)(A) of the Exchange Act (15 U.S.C.
78o(b)(11)(A)) if it: (1) is registered with the Commodity Futures
Trading Commission as a futures commission merchant or an introducing
broker, as those terms are defined in the Commodity Exchange Act (7
U.S.C. 1 et seq.); (2) is a member of the National Futures Association
or another national securities association registered under Section
15A(k) of the Exchange Act (15 U.S.C. 78o-3(k)); and (3) is not
required to register as a broker or dealer in connection with
transactions in securities other than security futures products. The
rule also requires a broker or dealer registering by notice to do so by
filing Form BD-N in accordance with the instructions to the form. In
addition, the rule provides that if the information contained in any
notice of registration filed on Form BD-N is or becomes inaccurate for
any reason, the broker or dealer shall promptly file an amendment on
the form correcting such information.
The total industry-wide annual time burden imposed by Form BD-N is
approximately 2.25 hours, based on approximately 9 responses (0 initial
filings + 9 amendments). Each initial application filed on Form BD-N
requires approximately 0.5 hours to complete and each amended Form BD-N
requires approximately 0.25 hours to complete. (0 x 0.5 hours = 0
hours; 9 x 0.25 hours = 2.25 hours; 0 hours + 2.25 hours = 2.25 hours).
The staff believes that a notice-registered broker-dealer would have a
Compliance Manager complete and file amendments on Form BD-N at a cost
of $385/hour. Consequently, the staff estimates that the total
monetized internal cost of compliance associated with the annual time
burden is approximately $866.25 per year ($385/hour x 2.25 hours).
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB Control Number.
Written comments are invited on: (a) whether this proposed
collection of information is necessary for the proper performance of
the functions of the SEC, including whether the information will have
practical utility; (b) the accuracy of the SEC's estimate of the burden
imposed by the proposed collection of information, including the
validity of the methodology and the assumptions used; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated,
electronic collection techniques or other forms of information
technology.
Please direct your written comments on this 60-Day Collection
Notice to Austin Gerig, Director/Chief Data Officer, Securities and
Exchange Commission, c/o Tanya Ruttenberg via email to
<a href="/cdn-cgi/l/email-protection#8fdfeeffeafdf8e0fde4ddeaebfaecfbe6e0e1ceecfbcffceaeca1e8e0f9"><span class="__cf_email__" data-cfemail="5f0f3e2f3a2d28302d340d3a3b2a3c2b3630311e3c2b1f2c3a3c71383029">[email protected]</span></a> by February 9, 2026. There will be a
second opportunity to comment on this SEC request following the Federal
[[Page 57237]]
Register publishing a 30-Day Submission Notice.
Dated: December 5, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-22404 Filed 12-9-25; 8:45 am]
BILLING CODE 8011-01-P
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