Federal Register / Vol. 89, No. 187 / Thursday, September 26, 2024 / Notices 78929 

4 15 U.S.C. 78s(b)(2). 

5See 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). 

7See Securities Exchange Act Release No. 

100438, 89 FR 54886 (July 2, 2024) (Order 

Instituting Proceedings) (‘‘OIP’’). 

8 15 U.S.C. 78s(b)(2). 

9See Notice, supra note 3. 

10 15 U.S.C. 78s(b)(2). 11 17 CFR 200.30–3(a)(57). 

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). 

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 

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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