SEC Extends Comment Period for Rule 15c6-2 Information Collection

The Securities and Exchange Commission announced an extension of the public comment period for the information collection associated with Rule 15c6-2, the rule that governs allocation, confirmation and affirmation for same-day settlement of securities transactions. The notice (FR Doc 2026-19621) cites OMB control number 3235-0810 and invokes the Paperwork Reduction Act of 1995.

Rule 15c6-2 applies to broker-dealers that participate in institutional trades. The Commission estimates that approximately 396 broker-dealers - about 145 participants of the Depository Trust Company and roughly 251 additional firms that rely on clearing brokers - will be subject to the rule's information-collection requirements.

The agency projects a one-time compliance burden of 240 hours per affected broker-dealer to create the required policies and procedures, and an ongoing annual burden of 480 hours for monitoring, documentation and record-keeping. Across the estimated 396 respondents, the total industry burden is calculated at 192,960 hours.

Broker-dealers must develop written policies that describe technology systems, set trade-date target time frames, outline communication and discrepancy-resolution procedures, address delays from counterparties, and measure allocation, confirmation and affirmation rates. Records must be retained for at least three years under Exchange Act Rule 17a-4(b)(7), with confidential treatment available upon request.

Comments on the collection must be submitted in accordance with the Paperwork Reduction Act guidelines during the newly extended comment period.