Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 602

<NOTICE> SECURITIES AND EXCHANGE COMMISSION <DEPDOC>[OMB Control No. 3235-0461]</DEPDOC> <SUBJECT>Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 602</SUBJECT> <FP SOURCE="FP-1"> <E T="03">Upon Written Request, Copies Available From:</E> Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549-2736 </FP> Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 <E T="03">et seq.</E> ), the Securities and Exchange Commission (SEC or “Commission”) is soliciting comments on the proposed collection of information provided for in Rule 602 of Regulation NMS (17 CFR 240.602), under the Securities Exchange Act of 1934 (15 U.S.C. 78a <E T="03">et seq.</E> ). The Commission plans to submit this existing collection of information to the Office of Management and Budget (“OMB”) for extension and approval. Rule 602 of Regulation NMS, Dissemination of Quotations in NMS securities, contains two related collections. The first collection of information is found in Rule 602(a). <SU>1</SU> <FTREF/> This third-party disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each “subject security,” as defined under the Rule. The second collection of information is found in Rule 602(b). <SU>2</SU> <FTREF/> This disclosure requirement obligates any exchange member and over-the-counter (“OTC”) market maker that is a “responsible broker or dealer,” as defined under the Rule, to communicate to an exchange or association its best bids, best offers, and quotation sizes for subject securities. <SU>3</SU> <FTREF/> <FTNT> <SU>1</SU>  17 CFR 242.602(a). </FTNT> <FTNT> <SU>2</SU>  17 CFR 242.602(b). </FTNT> <FTNT> <SU>3</SU>  Under Rule 602(b)(5), electronic communications networks (“ECNs”) have the option of reporting to an exchange or association for public dissemination, on behalf of customers that are OTC market makers or exchange market makers, the best-priced orders and the full size for such orders entered by market makers on the ECN, to satisfy such market makers' reporting obligation under Rule 602(b). Since this reporting requirement is an alternative method of meeting the market makers' reporting obligation, and because it is directed to nine or fewer persons (ECNs), this collection of information is not subject to OMB review under the Paperwork Reduction Act (“PRA”). </FTNT> It is anticipated that 30 respondents, consisting of 29 national securities exchanges and one national securities association, will collectively respond approximately 1,543,667,886,538 times per year pursuant to Rule 602(a) at 16.20 microseconds per response, resulting in a total annual time burden of approximately 208,410 hours. It is anticipated that no respondents will have a reporting burden pursuant to Rule 602(b). <SU>4</SU> <FTREF/> <FTNT> <SU>4</SU>  For the reporting obligation under Rule 602(b), the respondents are exchange members and OTC market makers. The Commission believes that communication of quotations through an exchange's electronic trading system effectively means that exchange members currently have no reporting burden under Rule 602(b) for these quotations. The Commission also believes that there are presently no OTC market makers that quote other than on an exchange. </FTNT> Thus, the aggregate third-party disclosure burden under Rule 602 is approximately 208,410 hours annually which is comprised of 208,410 hours relating to Rule 602(a) and 0 hours relating to Rule 602(b). An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB Control Number. Written comments are invited on: (a) whether this proposed collection of information is necessary for the proper performance of the functions of the SEC, including whether the information will have practical utility; (b) the accuracy of the SEC's estimate of the burden imposed by the proposed collection of information, including the validity of the methodology and the assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated, electronic collection techniques or other forms of information technology. Please direct your written comments on this 60-Day Collection Notice to Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Tanya Ruttenberg via email to <E T="03">PaperworkReductionAct@sec.gov</E> by February 23, 2026. There will be a second opportunity to comment on this SEC request following the <E T="04">Federal Register</E> publishing a 30-Day Submission Notice. <SIG> <DATED> Dated: December 19, 2025.</DATED> <NAME>Sherry R. Haywood,</NAME> Assistant Secretary. </SIG> <FRDOC>[FR Doc. 2025-23683 Filed 12-22-25; 8:45 am]</FRDOC> </NOTICE>