19 Sep 2025
📈SEC Notice on Information Collection for Rule 604
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 604
Summary
The SEC announces a request for extension concerning Rule 604, which mandates the public disclosure of customer limit orders by specialists and market makers. This regulation enhances market transparency for investors, potentially improving execution opportunities and access to optimal prices in securities trading. Written comments are invited to assess the collection’s necessity and effectiveness.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The SEC’s Rule 604 requires specialists and market makers to publish certain customer limit orders, which impacts trading practices and could affect compliance costs and operational procedures for financial firms. This represents a direct regulatory requirement that business owners and executives in the finance sector must adhere to.