SEC's Endless Loop: Rule 15g-2 Paperwork Gets Extended Again
Published Date: 8/7/2026
Notice
Summary
No summary available.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Mandatory Penny‑Stock Risk Disclosure
Before a broker-dealer can execute your first penny-stock trade, they must give you the penny stock disclosure document (Schedule 15G content) and get your signed, dated acknowledgement that you received it. This requirement applies prior to the first such transaction under Rule 15g-2(a).
Two‑Business‑Day Waiting Period
A broker-dealer cannot complete a penny-stock transaction for your account until at least two business days after it sends you the penny-stock disclosure document, per Rule 15g-2(b). This creates a mandatory waiting period before the first trade.
Right to Additional Penny‑Stock Information
Under Rule 15g-2(d), a broker-dealer must, upon your request, give you a copy of certain information that is posted on the Commission's website. This lets you obtain additional Commission-provided material about penny stocks from your broker-dealer.
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