SEC Releases Proposed Rule on Certain Information Gathering and Review Requirements for Broker-Dealers

The SEC has released a proposed rule that would amend Rule 15c2-11 of the Securities Exchange Act of 1934, which “sets out certain information gathering and review requirements for broker-dealers that publish quotations for, or maintain a continuous quoted market in, securities in the over-the-counter (OTC) market.” Under the proposed amendments, Rule 15c2-11 would clarify that it applies only to equity securities.

For more information, see the press release — as well as the statement by SEC Commissioner Hester Peirce — on the SEC’s Web site.