Submission for OMB Review; Comment Request: Rule 15c6-2 (SEC seeks comments on „proposed collections“ in relation to its new rule to shorten the settlement cycle for security transactions)

In relation to its new rule to shorten the settlement cycle for securities transactions from two business days to one from May 28, 2024 (please see Event ID19797 for more information), the SEC has now published in the Federal Register its obligatory „notice to solicit comments“ on related „collection“ requirements, including policy creation, maintenance, or (other) recordkeeping obligations of covered firms. As details were already discussed in EventID 22397, the original collection proposal, we refrain from repeating all collection requirements which range from obligations to keep on records any written agreements for a period of three years, to obligations to maintain policies for timely completing the allocation, confirmation, and affirmation process of institutional transactions.
As these activities fall under „collections“ for purposes of the „Paperwork Reduction Act of 1995“ (see comment box below), the SEC has now issued a corresponding „notice to solicit comments“ on the „collection“. The consultation will be open for public comment up to October 30, 2023.