Notice2026-18006
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 15g-9
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
September 3, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 91 Issue 170 (Thursday, September 3, 2026)</title>
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[Federal Register Volume 91, Number 170 (Thursday, September 3, 2026)]
[Notices]
[Page 56696]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-18006]
[[Page 56696]]
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SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0385]
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension: Rule 15g-9
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 15g-9 (17 CFR
240.15g-9), under the Securities Exchange Act of 1934 (15 U.S. C. 78a
et seq.) (``Exchange Act'').
Section 15(c)(2) of the Exchange Act authorizes the Commission to
promulgate rules reasonably designed to prevent fraudulent, deceptive,
or manipulative device or contrivance in connection with the over-the-
counter market. Pursuant to this authority, the Commission adopted Rule
15g-9 to require broker-dealers, prior to effecting a person's
transaction in a penny stock, to: (1) approve their account for
transactions in penny stocks by, among other things: (a) obtaining from
them information concerning their financial situation, investment
experience, and investment objectives; (b) reasonably determining that
transactions in penny stocks are suitable for them, and that he or she
(or their independent adviser) has sufficient knowledge and experience
in financial matters and is capable of evaluating the risks of
transactions in penny stocks; and (c) delivering to them a written
statement: (i) setting forth the basis on which the broker-dealer made
the suitability determination; (ii) stating in a highlighted format
that it is unlawful for the broker-dealer to effect a transaction in a
penny stock unless the broker-dealer has received, prior to the
transaction, a written agreement to the transaction from the person;
and (iii) stating in a highlighted format immediately preceding the
person's signature line that: (A) the broker-dealer is required to
provide the person with the written statement; and (B) the person
should not sign and return the written statement to the broker-dealer
if it does not accurately reflect their financial situation, investment
experience, and investment objectives; and (d)(i) obtaining from the
person a signed and dated copy of the statement; and (ii) waiting at
least two business days after sending the statement to effect the penny
stock transaction.
As of May 1, 2026, there are 3,248 registered broker-dealers. Of
the 3,248 broker-dealers, approximately five percent, or 162 broker-
dealers, are engaged in penny stock transactions and thereby subject to
Rule 15g-9 (5% x 3,248 broker-dealers = 162 broker-dealers). The
Commission estimates that each of these broker-dealers effects 3
persons' first penny stock transaction per week. Thus, each respondent
delivers approximately 156 penny stock written statements per year (52
weeks per year x 3 transactions per week) for a total aggregate of
approximately 25,272 responses per year (162 respondents x 156 penny
stock written statements per year).
The Commission estimates that a broker-dealer would take
approximately one-half hour per new penny stock investor to obtain,
review, and process (including delivering to the person) the
information required by Rule 15g-9, or approximately 78 hours per year
(156 new persons x .5 hours), for a total aggregate burden of
approximately 12,636 hours per year (162 respondents x 78 hours per
year) for this third-party disclosure obligation.
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=202606-3235-016">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202606-3235-016</a> or email comment to
<a href="/cdn-cgi/l/email-protection#2568677d0b6a68670b6a6c77640b7660667a4140564e7a4a43434c464057654a48470b404a550b424a53"><span class="__cf_email__" data-cfemail="9fd2ddc7b1d0d2ddb1d0d6cddeb1ccdadcc0fbfaecf4c0f0f9f9f6fcfaeddff0f2fdb1faf0efb1f8f0e9">[email protected]</span></a> within 30 days of the day
after publication of this notice, by October 5, 2026.
Dated: August 31, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-18006 Filed 9-2-26; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 3, 2026.
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