Notice2026-06242
Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 15c2-11
Primary source
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Published
April 1, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 62 (Wednesday, April 1, 2026)</title>
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[Federal Register Volume 91, Number 62 (Wednesday, April 1, 2026)]
[Notices]
[Pages 16273-16274]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-06242]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0202]
Agency Information Collection Activities; Proposed Collection;
Comment Request; Extension: Rule 15c2-11
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 15c2-11 (17 CFR
240.15c2-11) (``Rule''), under the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rule 15c2-11 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 Rule is designed to prevent
broker-dealers from publishing or submitting quotations for OTC
securities that may facilitate a fraudulent or manipulative scheme.
Subject to certain exceptions, the Rule prohibits broker-dealers from
publishing any quotation for a security or, directly or indirectly,
submitting any quotation for publication, in a quotation medium unless
they have reviewed specified information concerning the issuer.
Based on the current structure of the market, the Commission staff
believes that the recordkeeping and review requirements under Rule
15c2-11 apply to 196 broker-dealers, one qualified interdealer
quotation system (``QIDQS''), and one registered national securities
association (``RNSA''). Based on information provided by the Financial
Industry Regulatory Authority, Inc. (``FINRA''), the Commission staff
[[Page 16274]]
understands that in the 2024 calendar year, 266 Form 211 applications
were filed to initiate the publication or submission of quotations of
OTC securities: 76 of these Forms 211 concerned OTC securities of
prospectus issuers, Regulation A (``Reg. A'') issuers, and reporting
issuers; 163 concerned OTC securities of ``exempt foreign private
issuers''; and 27 concerned OTC securities of ``catch-all issuers.''
The collection of information that is submitted to FINRA for review and
approval is currently not available to the public from FINRA.
Commission staff estimates that the total annual burden of the
information collection requirements prescribed in the Rule is 1,771,343
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#eebe8f9e8b9c99819c85bc8b8a9b8d9a878180af8d9aae9d8b8dc0898198"><span class="__cf_email__" data-cfemail="227243524750554d50497047465741564b4d4c634156625147410c454d54">[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 27, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-06242 Filed 3-31-26; 8:45 am]
BILLING CODE 8011-01-P
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