60-Day Notice

Federal Register / Vol. 89, No. 187 / Thursday, September 26, 2024 / Notices
Section 19(b)(2) of the Act,4 the
Commission designated a longer period
within which to approve the proposed
rule change, disapprove the proposed
rule change, or institute proceedings to
determine whether to disapprove the
proposed rule change.5 On June 26,
2024, the Commission instituted
proceedings pursuant to Section
19(b)(2)(B) of the Exchange Act 6 to
determine whether to approve or
disapprove the proposed rule change.7
Section 19(b)(2) of the Act 8 provides
that, after initiating proceedings, the
Commission shall issue an order
approving or disapproving the proposed
rule change not later than 180 days after
the date of publication of the notice of
filing of the proposed rule change. The
Commission may extend the period for
issuing an order approving or
disapproving the proposed rule change,
however, by not more than 60 days if
the Commission determines that a
longer period is appropriate and
publishes the reasons for such
determination. The proposed rule
change was published for comment in
the Federal Register on March 29,
2024.9 The 180th day after publication
of the Notice is September 25, 2024. The
Commission is extending the time
period for approving or disapproving
the proposed rule change for an
additional 60 days.
The Commission finds that it is
appropriate to designate a longer period
within which to issue an order
approving or disapproving the proposed
rule change so that it has sufficient time
to consider the proposed rule change.
Accordingly, the Commission, pursuant
to Section 19(b)(2) of the Act,10
designates November 24, 2024 as the
date by which the Commission shall
either approve or disapprove the
proposed rule change (File No. SR–ISE–
2024–12).

4 15

U.S.C. 78s(b)(2).
Securities Exchange Act Release No.
100086, 89 FR 42528 (May 15, 2024). The
Commission designated June 27, 2024, as the date
by which it should approve, disapprove, or institute
proceedings to determine whether to disapprove the
proposed rule change.
6 15 U.S.C. 78s(b)(2)(B).
7 See Securities Exchange Act Release No.
100438, 89 FR 54886 (July 2, 2024) (Order
Instituting Proceedings) (‘‘OIP’’).
8 15 U.S.C. 78s(b)(2).
9 See Notice, supra note 3.
10 15 U.S.C. 78s(b)(2).

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For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–22019 Filed 9–25–24; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–421, OMB Control No.
3235–0481]

Proposed Collection; Comment
Request; Extension: Rule 15c2–8
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
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 15c2–8 (17 CFR
240.15c2–8), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 15c2–8 requires broker-dealers to
deliver preliminary and/or final
prospectuses to certain people under
certain circumstances. In connection
with securities offerings generally,
including initial public offerings
(‘‘IPOs’’), the rule requires brokerdealers to take reasonable steps to
distribute copies of the preliminary or
final prospectus to anyone who makes
a written request, as well as any brokerdealer who is expected to solicit
purchases of the security and who
makes a request. In connection with
IPOs, the rule requires a broker-dealer to
send a copy of the preliminary
prospectus to any person who is
expected to receive a confirmation of
sale (generally, this means any person
who is expected to actually purchase
the security in the offering) at least 48
hours prior to the sending of such
confirmation. This requirement is
sometimes referred to as the ‘‘48-hour
rule.’’
Additionally, managing underwriters
are required to take reasonable steps to
ensure that all broker-dealers
participating in the distribution of or
trading in the security have sufficient
copies of the preliminary or final
prospectus, as requested by them, to
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CFR 200.30–3(a)(57).

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enable such broker-dealer to satisfy their
respective prospectus delivery
obligations pursuant to Rule 15c2–8, as
well as Section 5 of the Securities Act
of 1933.
Rule 15c2–8 implicitly requires that
broker-dealers collect information, as
such collection facilitates compliance
with the rule. There is no requirement
to submit collected information to the
Commission. In order to comply with
the rule, broker-dealers participating in
a securities offering must keep accurate
records of persons who have indicated
interest in an IPO or requested a
prospectus, so that they know to whom
they must send a prospectus.
The Commission estimates that the
time broker-dealers will spend
complying with the collection of
information required by the rule is
24,200 hours for equity IPOs and 23,970
hours for other offerings. The
Commission estimates that the total
annualized cost burden (copying and
postage costs) is $17,100,000 for IPOs
and $958,800 for other offerings.
Written comments are invited on: (a)
whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (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 collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted by
November 25, 2024.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: Austin Gerig, Director/Chief Data
Officer, Securities and Exchange
Commission, c/o Oluwaseun Ajayi, 100
F Street NE, Washington, DC 20549, or
send an email to: PRA_Mailbox@
sec.gov.
Dated: September 20, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–22014 Filed 9–25–24; 8:45 am]
BILLING CODE 8011–01–P

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