Rule 15g-6; Account Statements for Penny Stock Customers

ICR 202107-3235-012

OMB: 3235-0395

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2021-10-25
Supplementary Document
2021-10-25
Supporting Statement A
2021-07-21
Supplementary Document
2018-09-07
IC Document Collections
IC ID
Document
Title
Status
34995
Modified
ICR Details
3235-0395 202107-3235-012
Received in OIRA 201803-3235-007
SEC TM-270-349
Rule 15g-6; Account Statements for Penny Stock Customers
Extension without change of a currently approved collection   No
Regular 10/25/2021
  Requested Previously Approved
36 Months From Approved 02/28/2022
277,680 304,200
13,884 15,210
0 0

Rule 15g-6 (17 CFR 240.15g-6) requires brokers and dealers that sell penny stocks to their customers to provide monthly account statements containing information with regard to penny stocks held in customer accounts.

US Code: 15 USC 78c(a)(51)(B), 78c(b), 78o(c) Name of Law: Sections 3(a)(51)(B), 3(b), 15(c) of the Securities Exchange Act of 1934
   US Code: 15 USC 78o(g), and 78w(a) Name of Law: Sections 15(g) and 23(a) of the Securities Exchange Act of 1934
  
None

Not associated with rulemaking

  86 FR 41528 08/02/2021
86 FR 58321 10/21/2021
No

1
IC Title Form No. Form Name
Rule 15g-6; Account Statements for Penny Stock Customers

  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 277,680 304,200 0 0 -26,520 0
Annual Time Burden (Hours) 13,884 15,210 0 0 -1,326 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The total annual time burden of compliance with Rule 15g-6 has decreased from approximately 15,210 hours per year to approximately 13,884 hours per year due to a change in methodology for estimating the number of broker-dealers affected. We previously estimated that 195 broker-dealers were subject to the penny stock rules. We now estimate that there are approximately 178 penny stock dealers subject to the penny stock rules.

$0
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.
10/25/2021


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