H.R. 3959 — Protecting Private Job Creators Act

This section exempts quotations of fixed-income securities from SEC Rule 15c2-11 (17 C.F.R. § 240.15c2-11). (Rule 15c2-11 generally requires broker-dealers to review and retain current public information about an issuer prior to publishing or submitting quotations for over-the-counter securities.) The term ``fixed-income security'' includes (1) notes, bonds, debentures, certificates of deposit, asset-backed securities, or other evidences of indebtedness; and (2) such securities that are convertible into equity securities or carry warrants or rights to subscribe to or purchase equity securities. (Thus, broker-dealers may publish quotations for these securities without complying with Rule 15c2-11's information review requirements.)