Federal Register #OMB Control No. 3235-0464

SEC Seeks Public Comment on Extension of Rule 101 Information Collection Requirements

The Securities and Exchange Commission (SEC) is seeking public comment on extending its information collection requirements under Rule 101 of Regulation M. - Government Buyer: - Securities and Exchange Commission (SEC) - Purpose: - Request for public input on the extension of information collection related to compliance and recordkeeping for broker-dealers under Rule 101 of Regulation M - Scope: - Applies to broker-dealers relying on exceptions for nonconvertible debt and preferred securities - Involves maintaining and updating policies, systems, and written probability of default calculations - Focuses on regulatory compliance, not procurement of goods or services - Products/Services Requested: - No specific products, OEMs, or vendors are mentioned - The request is for feedback on regulatory compliance activities and associated burden - Notable Requirements: - Industry-wide estimates for initial and ongoing burden hours and costs - Seeks suggestions for improving quality and minimizing respondent burden - Invites comments on necessity, accuracy, and practical utility of the collection

Description

The Securities and Exchange Commission (SEC) is proposing an extension of the existing collection of information under Rule 101 of Regulation M. The notice invites public comment on the collection. The collection relates to recordkeeping and compliance requirements for broker-dealers relying on exceptions in Rule 101 or Rule 102 for nonconvertible debt and preferred securities. The SEC estimates the burden hours and costs associated with compliance and seeks comments on the necessity, accuracy, and ways to minimize the burden of the collection.

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