The Securities and Exchange Commission (SEC) has requested approval from the Office of Management and Budget (OMB) to extend the information collection requirements under Rule 304 of Regulation ATS and Form ATS-N. These requirements are part of the regulatory framework for alternative trading systems, aiming to enhance transparency and competition in trading markets. The SEC estimates that entities will spend approximately 1,901 hours annually to meet these obligations. Public comments on this request can be submitted by March 28, 2025, and further information can be viewed or requested from the SEC's Office of FOIA Services.
Simple Explanation
The SEC wants permission to keep rules that make trading places, like stock exchanges, share some important info to make sure everything is clear and fair. They think these places will need almost 1,901 hours each year to do this, and people can share their thoughts about it until March 28, 2025.