§ 240.15g-2 Penny stock disclosure document relating to the penny stock market.  


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  • (a) It shall be unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer unless, prior to effecting such transaction, the broker or dealer has furnished to the customer a document containing the information set forth in Schedule 15G, §240.15g-100, and has obtained from the customer a signed and dated acknowledgment of receipt of the document.

    (b) Regardless of the form of acknowledgment used to satisfy the requirements of paragraph (a) of this section, it shall be unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer less than two business days after the broker or dealer sends such document.

    (c) The broker or dealer shall preserve, as part of its records, a copy of the written acknowledgment required by paragraph (a) of this section for the period specified in 17 CFR 240.17a-4(b) of this chapter.

    (d) Upon request of the customer, the broker or dealer shall furnish the customer with a copy of the information set forth on the Commission's Web site at http://www.sec.gov/investor/pubs/microcapstock.htm.

    [58 FR 37417, July 12, 1993, as amended at 70 FR 40632, July 13, 2005]

[Docket No. DOT-OST-2010-0140, 76 FR 23163, Apr. 25, 2011