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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
3235-0385 60 Day Notice.pdf	Supplementary Document	Uploaded 2020-11-09	Repair queued
3235-0385 60 Day Notice.pdf	Supplementary Document	Uploaded 2020-11-09	Repair queued
2020 15g-9 supporting statement.pdf	Supporting Statement A	Uploaded 2020-08-07	Missing upstream

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
34974	Rule 15g-9, Sales Practice Requirements for Certain Low-Priced Securities		Modified

ICR Details

OMB Control No: 3235-0385	ICR Reference No: 202008-3235-001
Status: Received in OIRA	Previous ICR Reference No: 201707-3235-001
Agency/Subagency: SEC	Agency Tracking No: TM-270-325
Title: Rule 15g-9, Sales Practice Requirements for Certain Low-Priced Securities
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/09/2020

table that charts list comparision

	Requested	Previously Approved
Expiration Date	36 Months From Approved	01/31/2021
Responses	28,392	30,888
Time Burden (Hours)	14,196	15,444
Cost Burden (Dollars)	0	0

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Abstract: 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.

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Authorizing Statute(s): 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.
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 51825	08/21/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 71364	11/09/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

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

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ICR Summary of Burden

table that charts list of burden

	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

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: 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.

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Annual Cost to Federal Government: $2,500

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 11/09/2020

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