Federal Register #OMB Control No. 3235-0434

SEC Requests Public Comment on Rule 15g-2 Information Collection Extension

The Securities and Exchange Commission (SEC) is requesting public comment on the extension of information collection requirements for Rule 15g-2 under the Securities Exchange Act of 1934. - Government Buyer: - Securities and Exchange Commission (SEC) - No OEMs or vendors are mentioned; this is not a procurement opportunity. - Products/Services Requested: - No products or services are being procured. - The notice concerns information collection related to broker-dealer disclosures and recordkeeping for penny stock transactions. - Unique/Notable Requirements: - The SEC is seeking feedback to potentially minimize the burden of information collection, including suggestions for electronic collection techniques. - Estimated annual burden for broker-dealers and customers is outlined. - Regulatory Context: - This is part of the SEC's ongoing regulatory process to review and improve information collection requirements.

Description

The Securities and Exchange Commission (SEC) is proposing to extend the existing collection of information related to Rule 15g-2 under the Securities Exchange Act of 1934. This rule imposes requirements on broker-dealers regarding transactions in penny stocks, including disclosure and recordkeeping obligations. The notice invites public comments to assist in the review of this information collection extension. The SEC estimates the burden on broker-dealers and customers involved in penny stock transactions and seeks to minimize this burden through potential use of automated or electronic collection techniques.

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