This bill seeks to permanently exempt fixed-income securities from the requirements of Securities and Exchange Commission (SEC) Rule 15c2-11. This rule, traditionally applied to over-the-counter (OTC) equity markets, governs disclosures for quotations in such markets. Congress finds that fixed-income markets operate differently from equity markets and are crucial for businesses to raise capital. The legislation specifically states that Rule 15c2-11, found in 17 CFR 240.15c2-11, will not apply to quotations of fixed-income securities. It provides a broad definition of fixed-income securities, encompassing notes, bonds, debentures, certificates of deposit, and asset-backed securities, including those convertible into equity. This action codifies previous SEC exemptive relief and ensures that the rule, which was based on equity market analysis, does not hinder fixed-income market functions.