The Securities and Exchange Commission (SEC) is seeking public comments on its plan to extend and update two collections of information: the Electronic Data Collection System database and Form TCR (Tip, Complaint, or Referral form). The database will use technology to help individuals easily file complaints online, averaging 30 minutes per submission, while Form TCR can be completed in about 1.5 hours for whistleblowers reporting potential federal securities law violations. The SEC is looking for feedback on the necessity, accuracy, and ways to improve and reduce the burden of these information collections and encourages public input before the deadline of April 10, 2025.
Simple Explanation
The SEC wants to hear what people think about some forms and a computer system they use to collect information, like whistleblower tips, to make sure they work well and are easy to use. They are asking everyone to give their thoughts by April 10, 2025, about how helpful, accurate, and safe these forms are.