1. Short title This Act may be cited as the Protecting Private Job Creators Act . 2. Findings Congress finds the following: (1) On September 16, 2020, the Securities and Exchange Commission adopted a final rule amending Rule 15c2–11 under the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ) which addresses disclosures in the OTC markets and imposes requirements upon broker-dealers who publish quotations in such markets. (2) Rule 15c2–11 was promulgated in 1971, and has generally been understood to apply to OTC equity markets since that time. (3) The amendments to Rule 15c2–11 were based on the economic analysis of OTC equity markets. (4) The fixed-income markets are different in structure and function than OTC equity markets. (5) The fixed-income markets are critical to the ability of thousands of businesses’ ability to raise capital. (6) Rule 144A requires that issuers make their financial and operational information available to qualified institutional buyers upon request. (7) Following No-Action Letters issued on September 24, 2021 and December 16, 2021, the Securities and Exchange Commission indicated that it would apply Rule 15c2–11 to fixed-income markets in a manner that made significant changes to long-standing regulatory requirements, without a rulemaking process, without analysis of the costs and benefits of the action, and without regard for the input of the public. According to a subsequent No-Action Letter, which was issued on November 30, 2022, the Securities and Exchange Commission will apply Rule 15c2–11 to fixed-income securities sold pursuant to Rule 144A after no-action relief expires on January 4, 2025. (8) On October 30, 2023, the Securities and Exchange Commission exempted fixed-income securities sold pursuant to Rule 144A from Rule 15c2–11 compliance, finding doing so is appropriate in the public interest, and consistent with the protection of investors . 3. Exception relating to quotations of fixed-income securities (a) In general Section 240.15c2–11 of title 17, Code of Federal