Joint Comment Letter Requesting an Extension of Rule 15c2-11

The Investment Company Institute and the Asset Management Group of the Securities Industry and Financial Markets Association submitted a letter to SEC Chair Gensler regarding concerns about applying Rule15c2-11 under the Exchange Act to fixed income securities. Market participants historically have not understood the rule as applicable to fixed income securities, and its provisions are not well-suited for them. Applying the rule to this class of securities starting in early January—when the current SEC staff will expire—is more likely to harm than protect retail investors. The letter requests an extension to Rule 15c2-11 should be put in place.

Read more in the comment letter.