Notice2026-06035
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 201 and Rule 200(g) of Regulation SHO
Primary source
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Published
March 30, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 60 (Monday, March 30, 2026)</title>
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[Federal Register Volume 91, Number 60 (Monday, March 30, 2026)]
[Notices]
[Pages 15677-15678]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-06035]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0670]
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension: Rule 201 and Rule 200(g) of
Regulation SHO
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 submitting to the Office of
Management and Budget (``OMB'') this request for extension of the
proposed collection of information provided for in Rule 201 (17 CFR
242.201) and Rule 200(g) (17 CFR 242.200(g)) under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et seq.).
Rule 201 is a short sale-related circuit breaker rule that, if
triggered, imposes a restriction on the prices at which securities may
be sold short. Rule 200(g) provides that a broker-dealer may mark
certain qualifying sell orders ``short exempt.'' The information
collected under Rule 201's written policies and procedures requirement
applicable to trading centers, the written policies and procedures
requirement of the broker-dealer provision of Rule 201(c), the written
policies and procedures requirement of the riskless principal provision
of Rule 201(d)(6), and the ``short exempt'' marking requirement of Rule
200(g) enable the Commission and self-regulatory organizations
(``SROs'') to examine and monitor for compliance with the requirements
of Rule 201 and Rule 200(g).
In addition, the information collected under Rule 201's written
policies and procedures requirement applicable to trading centers helps
ensure that trading centers do not execute or display any impermissibly
priced short sale orders, unless an order is marked ``short exempt,''
in accordance with the Rule's requirements. Similarly, the information
collected under the written policies and procedures requirement of the
broker-dealer provision of Rule 201(c) and the riskless principal
provision of Rule 201(d)(6) helps to ensure that broker-dealers comply
with the requirements of these provisions. The information collected
pursuant to the ``short exempt'' marking requirement of Rule 200(g)
also provides an indication to a trading center when it must execute or
display a short sale order without regard to whether the short sale
order is at a price that is less than or equal to the current national
best bid.
It is estimated that SRO and non-SRO respondents registered with
the Commission and subject to the collection of information
requirements of Rule 201 and Rule 200(g) incur an aggregate annual
burden of 1,446,553 hours to comply with the Rules and an aggregate
annual external cost of $248,000.
Any records generated in connection with Rule 201's requirements
that trading centers and broker-dealers (with respect to the broker-
dealer and riskless principal provisions) establish written policies
and procedures must be preserved in accordance with, and for the
periods specified in, Exchange Act Rules 17a-1 for SRO trading centers
and 17a-4(e)(7) for non-SRO trading centers and registered broker-
dealers. The amendments to Rule 200(g) and Rule 200(g)(2) do not
contain any new record retention requirements. All registered broker-
dealers that are subject to the amendments are currently required to
retain records in accordance with Rule 17a-4(e)(7) under the Exchange
Act.
Compliance with Rule 201 and Rule 200(g) is mandatory. We expect
that the information collected pursuant to Rule 201's required policies
and procedures for trading centers will be communicated to the members,
subscribers, and employees (as applicable) of all trading centers. In
addition, the information collected pursuant to Rule 201's required
policies and procedures for trading centers will be retained by the
trading centers and will be available to the Commission and SRO
examiners upon request, but not subject to public availability. The
information collected pursuant to Rule 201's broker-dealer provision
and the riskless principal exception will be retained by the broker-
dealers and will be available to the Commission and SRO examiners upon
request, but not subject to public availability. The information
collected pursuant to the ``short exempt'' marking requirements in Rule
200(g) and Rule 200(g)(2) will be submitted to trading centers and will
be available to the Commission and SRO examiners upon request. The
information collected pursuant to the ``short exempt'' marking
requirement may be publicly available because it may be published, in a
form that would not identify individual broker-dealers, by SROs that
publish on their internet websites aggregate short selling volume data
in each individual equity security for that day and, on a one-month
[[Page 15678]]
delayed basis, information regarding individual short sale transactions
in all exchange-listed equity securities.
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.
The public may view and comment on this information collection
request at: <a href="https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202601-3235-011">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202601-3235-011</a> or email comment to
<a href="/cdn-cgi/l/email-protection#2f626d770160626d0160667d6e017c6a6c704b4a5c4470404949464c4a5d6f40424d014a405f01484059"><span class="__cf_email__" data-cfemail="da979882f4959798f49593889bf4899f9985bebfa9b185b5bcbcb3b9bfa89ab5b7b8f4bfb5aaf4bdb5ac">[email protected]</span></a> within 30 days of the day
after publication of this notice, by April 30, 2026.
Dated: March 25, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-06035 Filed 3-27-26; 8:45 am]
BILLING CODE 8011-01-P
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