SEC Asks to Keep Tracking 305 Firms Avoiding Bad Trades
Published Date: 5/19/2026
Notice
Summary
The SEC is asking to keep collecting info from about 305 financial firms to make sure they follow Rule 611, which stops bad trades that hurt investors. These firms spend around 60 hours a year updating their rules to avoid trading at worse prices than others. This extension keeps things running smoothly with an estimated yearly cost of about $9.5 million for legal and compliance work.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Annual compliance burden for trading centers
The SEC seeks to continue collecting information from about 305 trading centers subject to Rule 611. Each respondent spends about 60 hours per year (2 legal hours per month and 3 compliance hours per month), totaling about 18,300 hours across all respondents and an estimated $9,453,780 in annual internal costs (attorney rate $744/hour; compliance rate $365/hour).
Supports enforcement to prevent trade-throughs
The information collection supports enforcement of Rule 611, which the Commission adopted June 9, 2005 (effective August 29, 2005), and requires trading centers to have written policies to prevent executing trades at prices inferior to protected bids or offers (trade-throughs). The SEC says without this collection respondents would lack a means to enforce compliance with the Commission's intention to prevent trade-throughs.
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Key Dates
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