Notice2026-06136
Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 103
Primary source
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Published
March 31, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 61 (Tuesday, March 31, 2026)</title>
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[Federal Register Volume 91, Number 61 (Tuesday, March 31, 2026)]
[Notices]
[Pages 16031-16032]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-06136]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0466]
Agency Information Collection Activities; Proposed Collection;
Comment Request; Extension: Rule 103
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 103 of
Regulation M (17 CFR 242.103), under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.).
Rule 103 permits passive market-making in Nasdaq securities during
a distribution. A distribution participant that seeks use of this
exception would be required to disclose to third parties its intention
to engage in passive market making.
There are approximately 249 respondents per year that require an
aggregate total of approximately 249 hours to comply with this rule.
Each respondent makes an estimated 1 annual response. Each response
takes approximately 1 hour to complete. Thus, the total hour burden per
year is approximately 249 hours (249 secondary offerings of Nasdaq
securities eligible for passive market making x 1 hour per offering).
The total estimated aggregate internal cost of compliance for the
respondents is approximately $40,836 per year, resulting in an
estimated aggregate internal cost of compliance per response of
approximately $164 (i.e., $40,836/249 responses).
[[Page 16032]]
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 the proposed
collection of information is necessary for the proper performance of
the functions of the SEC, including whether the information shall have
practical utility; (b) the accuracy of the SEC's estimate of the burden
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 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#2f7f4e5f4a5d58405d447d4a4b5a4c5b4640416e4c5b6f5c4a4c01484059"><span class="__cf_email__" data-cfemail="540435243126233b263f0631302137203d3b3a153720142731377a333b22">[email protected]</span></a> by June 1, 2026. There will be a second
opportunity to comment on this SEC request following the Federal
Register publishing a 30-Day Submission Notice.
Dated: March 26, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-06136 Filed 3-30-26; 8:45 am]
BILLING CODE 8011-01-P
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