60 Day Notice

3235-0385 60 Day Notice.pdf

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

60 Day Notice

OMB: 3235-0385

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Federal Register / Vol. 85, No. 163 / Friday, August 21, 2020 / Notices
available publicly. All submissions
should refer to File Number SR–MRX–
2020–15 and should be submitted on or
before September 11, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–18344 Filed 8–20–20; 8:45 am]

[SEC File No. 270–325, OMB Control No.

Proposed Collection; Comment
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC


Rule 15g–9

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) is soliciting comment
on the collection of information
described below. The Commission plans
to submit this existing collection of
information to the Office of
Management and Budget (OMB) for
extension and approval.
Section 15(c)(2) of the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (the ‘‘Exchange Act’’) authorizes
the Commission to promulgate rules
that prescribe means reasonably
designed to prevent fraudulent,
deceptive, or manipulative practices in
connection with over-the-counter
(‘‘OTC’’) securities transactions.
Pursuant to this authority, the
Commission in 1989 adopted Rule 15a–
6, which was subsequently redesignated
as Rule 15g–9, 17 CFR 240.15g–9 (the
‘‘Rule’’). The Rule requires brokerdealers to produce a written suitability
determination for, and to obtain a
written customer agreement to, certain
recommended transactions in penny
stocks that are not registered on a
national securities exchange, and whose
issuers do not meet certain minimum
financial standards. The Rule is
intended to prevent the indiscriminate
use by broker-dealers of fraudulent, high
pressure telephone sales campaigns to

sell penny stocks to unsophisticated
The Commission staff estimates that
there are approximately 182 brokerdealers subject to the Rule. The burden
of the Rule on a respondent varies
widely depending on the frequency
with which new customers are solicited.
On the average for all respondents, the
staff has estimated that respondents
process three new customers per week,
or approximately 156 new customer
suitability determinations per year. We
also estimate that a broker-dealer would
expend approximately one-half hour per
new customer in obtaining, reviewing,
and processing (including transmitting
to the customer) the information
required by Rule 15g–9, and each
respondent would consequently spend
78 hours annually (156 customers × .5
hours) obtaining the information
required in the rule. We determined,
based on the estimate of 182 brokerdealer respondents, that the current
annual burden of Rule 15g–9 is 14,196
hours (182 respondents × 78 hours).
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information on respondents; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
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.
Please direct your written comments
to: David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549, or send an email to: PRA_
[email protected].
Dated: August 18, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–18401 Filed 8–20–20; 8:45 am]

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CFR 200.30–3(a)(12).

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[Release No. 34–89583; File No. SR–

Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change Relating To
Adopt Fees for a New Data Product on
its Equity Options Platform To Be
Known as Intraday Open-Close Data
August 17, 2020.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August 3,
2020, Cboe BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX Options’’) is filing
with the Securities and Exchange
Commission (‘‘Commission’’) a
proposed rule change to adopt fees for
a new data product on its equity options
platform (‘‘BZX Options’’) to be known
as Intraday Open-Close Data. The text of
the proposed rule change is provided in
Exhibit 5.
The text of the proposed rule change
is also available on the Exchange’s
website (http://markets.cboe.com/us/
equities/regulation/rule_filings/bzx/), at
the Exchange’s Office of the Secretary,
and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
1 15
2 17


Sfmt 4703



U.S.C. 78s(b)(1).
CFR 240.19b–4.


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