Federal Register 60-Day Notice

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Federal Register / Vol. 91, No. 123 / Monday, June 29, 2026 / Notices
to Rule 19b4(f)(6)(iii),18 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest.
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 19 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include file number SR–
NYSENAT–2026–20 on the subject line.

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Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to file
number SR–NYSENAT–2026–20. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (https://www.sec.gov/
rules/sro.shtml). Copies of the filing will
be available for inspection and copying
at the principal office of the Exchange.
Do not include personal identifiable
information in submissions; you should
submit only information that you wish
to make available publicly. We may
redact in part or withhold entirely from
publication submitted material that is
obscene or subject to copyright
protection. All submissions should refer
to file number SR–NYSENAT–2026–20
and should be submitted on or before
July 20, 2026.

For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026–13011 Filed 6–26–26; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0385]

Agency Information Collection
Activities; Proposed Collection;
Comment Request; Extension: Rule
15g–9
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
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 (‘‘SEC’’ or
‘‘Commission’’) is soliciting comments
on the proposed collection of
information provided for in Rule 15g–9
(17 CFR 240.15g–9), under the
Securities Exchange Act of 1934 (15
U.S. C. 78a et seq.) (‘‘Exchange Act’’).
Section 15(c)(2) of the Exchange Act
authorizes the Commission to
promulgate rules reasonably designed to
prevent fraudulent, deceptive, or
manipulative device or contrivance in
connection with the over-the-counter
market. Pursuant to this authority, the
Commission adopted Rule 15g–9 to
require broker-dealers, prior to effecting
a person’s transaction in a penny stock,
to: (1) approve their account for
transactions in penny stocks by, among
other things: (a) obtaining from them
information concerning their financial
situation, investment experience, and
investment objectives; (b) reasonably
determining that transactions in penny
stocks are suitable for them, and that he
or she (or their independent adviser) has
sufficient knowledge and experience in
financial matters and is capable of
evaluating the risks of transactions in
penny stocks; and (c) delivering to them
a written statement: (i) setting forth the
basis on which the broker-dealer made
the suitability determination; (ii) stating
in a highlighted format that it is
unlawful for the broker-dealer to effect
a transaction in a penny stock unless the
broker-dealer has received, prior to the
transaction, a written agreement to the
transaction from the person; and (iii)
stating in a highlighted format
immediately preceding the person’s

18 17 CFR 240.19b–4(f)(6)(iii).
19 15 U.S.C. 78s(b)(2)(B).

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20 17 CFR 200.30–3(a)(12).

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signature line that: (A) the broker-dealer
is required to provide the person with
the written statement; and (B) the
person should not sign and return the
written statement to the broker-dealer if
it does not accurately reflect their
financial situation, investment
experience, and investment objectives;
and (d)(i) obtaining from the person a
signed and dated copy of the statement;
and (ii) waiting at least two business
days after sending the statement to
effect the penny stock transaction.
As of May 1, 2026, there are 3,248
registered broker-dealers. Of the 3,248
broker-dealers, approximately five
percent, or 162 broker-dealers, are
engaged in penny stock transactions and
thereby subject to Rule 15g–9 (5% ×
3,248 broker-dealers = 162 brokerdealers). The Commission estimates that
each of these broker-dealers effects 3
persons’ first penny stock transaction
per week. Thus, each respondent
delivers approximately 156 penny stock
written statements per year (52 weeks
per year × 3 transactions per week) for
a total aggregate of approximately
25,272 responses per year (162
respondents × 156 penny stock written
statements per year).
The Commission estimates that a
broker-dealer would take approximately
one-half hour per new penny stock
investor to obtain, review, and process
(including delivering to the person) the
information required by Rule 15g–9, or
approximately 78 hours per year (156
new persons × .5 hours), for a total
aggregate burden of approximately
12,636 hours per year (162 respondents
× 78 hours per year) for this third-party
disclosure obligation.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid OMB
Control Number.
Written comments are invited on: (a)
whether this proposed collection of
information is necessary for the proper
performance of the functions of the SEC,
including whether the information will
have practical utility; (b) the accuracy of
the SEC’s estimate of the burden
imposed by the proposed collection of
information, including the validity of
the methodology and the assumptions
used; (c) ways to enhance the quality,
utility, and clarity of the information to
be collected; and (d) ways to minimize
the burden of the collection of
information on respondents, including
through the use of automated, electronic
collection techniques or other forms of
information technology.
Please direct your written comments
on this 60-Day Collection Notice to
Austin Gerig, Director/Chief Data

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Federal Register / Vol. 91, No. 123 / Monday, June 29, 2026 / Notices

Officer, Securities and Exchange
Commission, c/o Tanya Ruttenberg via
email to PaperworkReductionAct@
sec.gov by August 28, 2026.
Dated: June 25, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026–13090 Filed 6–26–26; 8:45 am]

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–105765; File No. SR–
NASDAQ–2026–056]

Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend Rule
General 8 Connectivity To Establish
Fees for its TNO Cross-Connect
Service
June 24, 2026.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1, and Rule 19b–4 thereunder,2
notice is hereby given that on June 11,
2026, The Nasdaq Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘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.

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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule General 8 (Connectivity) to
establish fees for its TNO Cross-Connect
service, as described further below.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/nasdaq/rulefilings, and at the
principal office of the Exchange.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
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
2 17 CFR 240.19b–4.

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A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose

BILLING CODE 8011–01–P

1 15 U.S.C. 78s(b)(1).

forth in sections A, B, and C below, of
the most significant aspects of such
statements.

The Exchange proposes to amend
Rule General 8 (Connectivity) to
establish fees for its TNO Cross-Connect
service.
TNO Cross-Connect is a
telecommunications network operator
(‘‘TNO’’ or ‘‘telco’’) connectivity service
that consists of the cabling running from
a TNO’s carrier cabinet to a Nasdaqmanaged distribution point within the
Exchange’s data center campus. The
TNO Cross-Connect service constitutes a
defined and Nasdaq-managed
component of the telco to customer
connectivity path and serves as a
standardized point of access for TNO
connectivity inside the Exchange’s data
center.
In its proposal introducing TNO
Cross-Connect as a connectivity
offering,3 the Exchange noted that it
would submit a separate rule filing to
establish fees for the TNO CrossConnect service. This proposed rule
change establishes fees for the service.
Specifically, the Exchange proposes to
amend Rule General 8, Section 1(b) to
establish an installation fee and an
ongoing monthly fee for its TNO CrossConnect service.4 The proposed
installation fee is $550 and the proposed
ongoing monthly fee is $385.5
3 See Securities Exchange Act Release No. 105014
(Mar. 16, 2026), 91 FR 13371 (Mar. 19, 2026) (SR–
NASDAQ–2026–014) (‘‘TNO Cross-Connect
Proposal’’).
4 For purposes of this proposal, each telco
provider-to-customer cross-connection would
constitute a TNO Cross-Connect subject to the fees
herein proposed. For example, if a telco provider
provides three separate cross-connects for a single
customer, each such telco-to-customer cross
connect would constitute a TNO Cross Connect
subject to the installation and ongoing monthly fees
proposed herein.
5 To effectuate this change, the Exchange
proposes to amend Rule General 8, Section 1(b) to
delete the acronym ‘‘TBD’’ in all instances where
it appears in connection with the installation and
ongoing monthly fee for the TNO Cross-Connect
service and substitute therefor the corresponding
installation fee of $550 and ongoing monthly fee of
$385, as proposed. See proposed Rule General 8,
Section 1(b). Upon implementation of the proposed
rule change on or about the third quarter of 2026,
the Exchange will charge the proposed installation
fee only to telco providers who submit new orders
for installation of TNO Cross-Connect. Such telco
providers will also be subject to the proposed
recurring monthly fee. The Exchange will not,
however, charge the installation fee to telco
providers for whom the TNO Cross-Connect has
already been installed as of that implementation
date. Such telco providers will, however, be

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The Exchange believes that
establishing fees for TNO Cross-Connect
is appropriate and reasonable because
the service entails Exchange-provided
and Exchange-managed infrastructure,
cabling, inventory management, ongoing
maintenance, and operational oversight.
The fees also reflect the resources
required for the Exchange to implement,
administer, monitor, and support the
service on a non-discriminatory basis
for all TNOs.
The Exchange proposes to implement
the proposed changes during the third
quarter of 2026 on or about July 1, 2026.
The Exchange will announce the
specific implementation date via
Nasdaq’s customer portal.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,6 in general, and furthers the
objectives of Sections 6(b)(4) and 6(b)(5)
of the Act,7 in particular, in that it
provides for the equitable allocation of
reasonable dues, fees and other charges
among members and issuers and other
persons using any facility, and is not
designed to permit unfair
discrimination between customers,
issuers, brokers, or dealers.
The Exchange believes that the
proposed fees for TNO Cross-Connect
are reasonable because they reflect the
Exchange’s provision, operation,
maintenance, and oversight of a defined,
Exchange-managed telecommunications
connectivity component that is required
for TNOs seeking to provide services to
Nasdaq data center customers. As
described in the TNO Cross-Connect
Proposal, the Exchange administers and
manages the cabling, demarcation
points, inventory, and ongoing
operational support associated with this
connectivity path.
The Exchange further believes that the
proposed fees are reasonable because
they are comparable to, and lower than,
fees charged by another national
securities exchange for a similar
telecommunications carrier connectivity
service. Specifically, NYSE offers a
Carrier Connection Fee service 8 for a
assessed the ongoing monthly fee starting on the
date the proposed offering is implemented by the
Exchange. The Exchange does not currently charge
telco providers any fee—whether an installation fee,
monthly fee, or otherwise—for the proposed
connectivity service and will continue not to do so
until the proposed service is implemented.
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(4) and (5).
8 See The New York Stock Exchange LLC,
Connectivity Fee Schedule (Mar. 27, 2026),
available at https://www.nyse.com/publicdocs/nyse/
Wireless_Connectivity_Fees_and_Charges.pdf
(setting forth a recurring monthly charge of
$1,150.00 per connection for the Carrier Connection

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