📊SEC Notice on Rules 6a-1 and 6a-2 Compliance and Implications
Submission for OMB Review; Comment Request; Extension: Rules 6a-1 and 6a-2, Form 1
Summary
The SEC has submitted a request for OMB approval to extend the information collection requirements under Rules 6a-1 and 6a-2 related to national securities exchanges. This includes the necessity for thorough reporting and documentation filings, crucial for the Commission's oversight and regulatory functions. The proposed regulations emphasize maintaining updated and accurate information for operational compliance and registration processes.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The content outlines compliance requirements under the Securities Exchange Act for national securities exchanges through Rules 6a-1 and 6a-2. Business owners and executives must be aware of their obligation to file initial registration applications and periodic updates, which involves significant time and resources (estimated at 8,030 hours annually).