The US Securities and Exchange Commission is pushing to clear up years of confusion over a key broker-dealer reporting rule that prevented certain assets from being quoted by broker-dealers on the over-the-counter (OTC) market. 

The SEC Rule 15c2-11 was first adopted in 1971, aimed at reducing fraud in the penny stock market. It requires broker-dealers to maintain up-to-date public information about an issuer before it can publish over-the-counter quotes.

In 2021, the rule was reinterpreted to also include fixed-income securities (such as government or corporate bonds), which saw backlash from the market. There have also been questions about whether it applies to crypto securities.

In a statement on Monday, the SEC proposed an amendment…