Rule 15g-3; Broker-Dealer Disclosure of Quotations and other Information Relating to the Penny Stock Market

Forms and Documents

Document Name	Status
89 FR 60671 (OMB 3235-0392).pdf Supplementary Document	2024-07-29
89 FR 43915 (OMB 3235-0392).pdf Supplementary Document	2024-07-29
Supporting Statement _Rule 15g-3 2024 DGL REVISED.pdf Supporting Statement A	2024-05-14
3235-0392 30 Day Notice.pdf Supplementary Document	2021-09-15
3235-0392 60 Day Notice.pdf Supplementary Document	2021-09-15

IC Document Collections

IC ID	Document Title	Status
34983	Rule 15g-3; Broker-Dealer Disclosure of Quotations and other Information Relating to the Penny Stock Market	Modified

ICR Details

OMB Control No: 3235-0392	ICR Reference No: 202405-3235-005
Status: Received in OIRA	Previous ICR Reference No: 202106-3235-010
Agency/Subagency: SEC	Agency Tracking No: TM-270-346
Title: Rule 15g-3; Broker-Dealer Disclosure of Quotations and other Information Relating to the Penny Stock Market
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: 07/29/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	11/30/2024
Responses	888,250	930,050
Time Burden (Hours)	14,804	15,501
Cost Burden (Dollars)	0	0

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Abstract: Rule 15g-3 (17 CFR 240.15g-3) requires that brokers or dealers disclose to customers current quotation prices or similar market information in connection with penny stock transactions.

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Authorizing Statute(s): US Code: 15 USC 78o(g), and 78w(a) Name of Law: 15(g) and 23(a) of the Securities Exchange Act of 1934
   US Code: 15 USC 78c(a)(51)(B), 78c(b), 78o(c), Name of Law: 3(a)(51)(B), 3(b), 15(c) 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:
	89 FR 43915	05/20/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 60671	07/26/2024
Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Rule 15g-3; Broker-Dealer Disclosure of Quotations and other Information Relating to the Penny Stock Market

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ICR Summary 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	888,250	930,050	0	0	-41,800	0
Annual Time Burden (Hours)	14,804	15,501	0	0	-697	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: The estimated annual time burden decreased from approximately15,501 hours to approximately 14,804 hours because the estimated number of broker-dealers subject to the penny stock rules dereased from 178 to 170.

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Annual Cost to Federal Government: $0

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: 07/29/2024

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