The Securities and Exchange Commission (SEC) is inviting public comments on the continued collection of information for Rule 12f-1 under the Securities Exchange Act of 1934. This rule requires exchanges to provide information when applying to reinstate unlisted trading privileges (UTP) in a security whose UTP had been suspended. The SEC estimates that it takes about one hour to complete each application, with a total cost of $221 per response, resulting in an annual compliance cost of approximately $5,304 for all respondents. The SEC is seeking feedback on the necessity, accuracy, and efficiency of this information collection process, and comments must be submitted within 60 days of publication.
Simple Explanation
The SEC wants to hear from people about how helpful and accurate a rule is that asks stock exchanges to give certain information when they want to start trading a stock again after a break. They think it only takes an hour and costs $221 each time, but they're asking if this is really true and how they can do it better.