The U.S. Securities and Exchange Commission (SEC) has proposed an amendment to Rule 15c2-11 of the Exchange Act, clarifying that the rule applies exclusively to equity securities. This move explicitly excludes cryptocurrencies from the rule's scope. Rule 15c2-11 outlines the information collection and review requirements for brokers quoting or maintaining continuous quotes in the over-the-counter (OTC) securities market, aiming to prevent market manipulation and fraudulent trading. The proposed amendment will be open for public comment for 60 days following its publication in the Federal Register. This clarification seeks to ensure that the rule's application is limited to stocks and securities, aligning regulatory focus on preventing fraud in the OTC stock market.
SEC Proposes Rule 15c2-11 Amendment to Exclude Cryptocurrencies
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