Rules and Regulations. SECURITIES AND EXCHANGE COMMISSION
349 words·~2 min read·
/register/2024/08/19/2024-18461·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 8011-01-P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270-348, OMB Control No. 3235-0394] Submission for OMB Review; Comment Request; Extension: Rule 15g-5 *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 (“PRA”) (44 U.S.C. 3501 *et seq.* ), the Securities and Exchange Commission (“Commission”) has submitted to the Office of Management and Budget (“OMB”) a request for approval of extension of the previously approved collection of information provided for in Rule 15g-5—Disclosure of Compensation of Associated Persons in Connection with Penny Stock Transactions—(17 CFR 240.15g-5) under the Securities Exchange Act of 1934 (15 U.S.C. 78a *et seq.* ).
Rule 15g-5 requires brokers and dealers to disclose to customers the amount of compensation to be received by their sales agents in connection with penny stock transactions. The purpose of the rule is to increase the level of disclosure to investors concerning penny stocks generally and specific penny stock transactions. The Commission estimates that approximately 170 broker-dealers will spend an average of approximately 87 hours annually to comply with the rule. Thus, the total time burden is approximately 14,790 burden-hours per year.
Rule 15g-5 contains record retention requirements. Compliance with the rule is mandatory. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: *www.reginfo.gov.* Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.
Written comments and recommendations for the proposed information collection should be sent by September 18, 2024 to
(i)*www.reginfo.gov/public/do/PRAMain* and
(ii)Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549, or by sending an email to: *PRA_Mailbox@sec.gov.* Dated: August 13, 2024. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024-18461 Filed 8-16-24; 8:45 am]
Connectionstraces to 2
Traces to 2 documents
U.S. Code
1 reference not yet in our index
- 17 CFR 240.15
Citation graph
cites case law
Cites 3Cited by 0 across 0 sources