Rule 15g-9, Sales Practice Requirements for Certain Low-Priced Securities

ICR 202008-3235-001

OMB: 3235-0385

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2020-11-09
Supplementary Document
2020-11-09
Supporting Statement A
2020-08-07
IC Document Collections
ICR Details
3235-0385 202008-3235-001
Received in OIRA 201707-3235-001
SEC TM-270-325
Rule 15g-9, Sales Practice Requirements for Certain Low-Priced Securities
Extension without change of a currently approved collection   No
Regular 11/09/2020
  Requested Previously Approved
36 Months From Approved 01/31/2021
28,392 30,888
14,196 15,444
0 0

Rule 17 CFR 240.15g-9, originally adopted Aug. 28, 1989 as Rule 15c2-6 under the Exchange Act, was redesignated as Rule 15g-9 and amended on July 12, 1993 and amended on July 15, 2005. The rule prohibits a broker-dealer, absent certain exceptions, from buying or selling a penny stock without first obtaining the agreement of the customer and the broker-dealer then providing a written finding of suitability to the customer.

US Code: 15 USC 78c(b), 78o(c), 78o(g) and 78w Name of Law: Sections 2, 3(b), 15B, 15(c), 15(g), 17 and 23(a) of the Securities Exchange Act of 1934.
  
None

Not associated with rulemaking

  85 FR 51825 08/21/2020
85 FR 71364 11/09/2020
No

1
IC Title Form No. Form Name
Rule 15g-9, Sales Practice Requirements for Certain Low-Priced Securities

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 28,392 30,888 0 0 -2,496 0
Annual Time Burden (Hours) 14,196 15,444 0 0 -1,248 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There was a decrease in the number of respondents affected by the rule, which impacted agency estimates. This decrease was caused by a decrease in the number of registered broker-dealers.

$2,500
No
    No
    No
No
No
No
No
Jane Wetterau 202 551-4483

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
11/09/2020


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