Proposed Collection; Comment Request, 28730-28731 [E7-9808]

Download as PDF 28730 Federal Register / Vol. 72, No. 98 / Tuesday, May 22, 2007 / Notices 2. Docket No. R2006–1—reconsideration of Standard Mail recommendation. CONTACT PERSON FOR MORE INFORMATION: Stephen L. Sharfman, General Counsel, Postal Regulatory Commission, 901 New York Avenue, NW., Suite 200, Washington, DC 20268–0001, 202–789– 6818. Dated: May 17, 2007. Steven W. Williams, Secretary. [FR Doc. 07–2556 Filed 5–17–07; 4:49 pm] BILLING CODE 7710–FW–M SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. jlentini on PROD1PC65 with NOTICES Extension: Rule 303, SEC File No. 270–450, OMB Control No. 3235–0505. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Commission (‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Regulation ATS (17 CFR 242.300 et seq.) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) provides a regulatory structure that directly addresses issues related to alternative trading systems’ role in the marketplace. Regulation ATS allows alternative trading systems to choose between two regulatory structures. Alternative trading systems have the choice between registering as broker-dealers and complying with Regulation ATS or registering as national securities exchanges. Regulation ATS provides the regulatory framework for those alternative trading systems that choose to be regulated as broker-dealers. Rule 303 of Regulation ATS describes the record preservation requirements for alternative trading systems that are not national securities exchanges. Alternative trading systems that register as broker-dealers, comply with Regulation ATS, and meet certain volume thresholds are required to preserve all records made pursuant to Rule 302, which includes information relating to subscribers, trading summaries and order information. Such VerDate Aug<31>2005 18:21 May 21, 2007 Jkt 211001 alternative trading systems are also required to preserve records of any notices communicated to subscribers, a copy of the system’s standards for granting access to trading and any documents generated in the course of complying with the capacity, integrity and security requirements for automated systems under Rule 301(b)(6) of Regulation ATS. Rule 303 also describes how such records must be kept and how long they must be preserved. The information contained in the records required to be preserved by the Rule will be used by examiners and other representatives of the Commission, state securities regulatory authorities, and the SROs to ensure that alternative trading systems are in compliance with Regulation ATS as well as other rules and regulations of the Commission and the SROs. Without the data required by the proposed Rule, the Commission would be severely limited in its ability to comply with its statutory obligations, provide for the protection of investors and promote the maintenance of fair and orderly markets. Respondents consist of alternative trading systems that choose to register as broker-dealers and comply with the requirements of Regulation ATS. The Commission estimates that there are currently approximately 65 respondents. An estimated 65 respondents will spend approximately 260 hours per year (65 respondents at 4 burden hours/ respondent) to comply with the record preservation requirements of Rule 303. At an average cost per burden hour of $86.54, the resultant total related cost of compliance for these respondents is $22,500.00 per year (260 burden hours multiplied by $86.54/hour; a slight discrepancy is due to arithmetic rounding). Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Comments should be directed to R. Corey Booth Director/Chief Information Officer, Securities and Exchange PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 days of this notice. Dated: May 16, 2007. J. Lynn Taylor, Assistant Secretary. [FR Doc. E7–9806 Filed 5–21–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 301 and Forms ATS and ATS–R, SEC File No. 270–451, OMB Control No. 3235–0509. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Regulation ATS (17 CFR 242.300 et seq.) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) provides a regulatory structure that directly addresses issues related to alternative trading systems’ role in the marketplace. Regulation ATS allows alternative trading systems to choose between two regulatory structures. Alternative trading systems have the choice between registering as broker-dealers and complying with Regulation ATS or registering as national securities exchanges. Regulation ATS provides the regulatory framework for those alternative trading systems that choose to be regulated as broker-dealers. Rule 301 of Regulation ATS contains certain notice and reporting requirements, as well as additional obligations that only apply to alternative trading systems with significant volume. Rule 301 describes the conditions with which a registered broker-dealer operating an alternative trading system must comply. The Rule requires all alternative trading systems that wish to comply with Regulation ATS to file an initial operation report on Form ATS. The initial operation report requires E:\FR\FM\22MYN1.SGM 22MYN1 jlentini on PROD1PC65 with NOTICES Federal Register / Vol. 72, No. 98 / Tuesday, May 22, 2007 / Notices information regarding operation of the system including the method of operation, access criteria and the types of securities traded. Alternative trading systems are also required to supply updates on Form ATS to the Commission, describing material changes to the system, and quarterly transaction reports on Form ATS–R. Alternative trading systems are also required to file cessation of operations reports on Form ATS. Alternative trading systems with significant volume are required to comply with requirements for fair access and systems capacity, integrity and security. Under Rule 301, such alternative trading systems are required to establish standards for granting access to trading on its system. In addition, upon a decision to deny or limit an investor’s access to the system, an alternative trading system is required to provide notice to the investor of the denial or limitation and their right to an appeal to the Commission. Regulation ATS requires alternative trading systems to preserve any records made in the process of complying with the systems’ capacity, integrity and security requirements. In addition, such alternative trading systems are required to notify Commission staff of material systems outages and significant systems changes. The Commission uses the information provided pursuant to the Rule to monitor the growth and development of alternative trading systems to confirm that investors effecting trades through the systems are adequately protected, and that the systems do not impede the maintenance of fair and orderly securities markets or otherwise operate in a manner that is inconsistent with the federal securities laws. In particular, the information collected and reported to the Commission by alternative trading systems enables the Commission to evaluate the operation of alternative trading systems with regard to national market system goals, and monitor the competitive effects of these systems to ascertain whether the regulatory framework remains appropriate to the operation of such systems. Without the information provided on Forms ATS and ATS–R, the Commission would not have readily available information on a regular basis in a format that will allow it to determine whether such systems have adequate safeguards. Respondents consist of alternative trading systems that choose to register as broker-dealers and comply with the requirements of Regulation ATS. The Commission estimates that there are currently approximately 65 respondents. VerDate Aug<31>2005 18:21 May 21, 2007 Jkt 211001 An estimated 65 respondents will file an average total of 465 responses per year, which corresponds to an estimated annual response burden of 1,982.5 hours. At an average cost per burden hour of approximately $95.57, the resultant total related cost of compliance for these respondents is $189,458.15 per year (1,982.5 burden hours multiplied by $95.57 per hour; a slight discrepancy is due to arithmetic rounding). Written comments are invited on (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Comments should be directed to: R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 days of this notice. Dated: May 16, 2007. J. Lynn Taylor, Assistant Secretary. [FR Doc. E7–9808 Filed 5–21–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request Upon written request, copies available from: Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. Extension: Rule 302, SEC File No. 270–453, OMB Control No. 3235–0510. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 28731 plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. Regulation ATS (17 CFR 242.300 et seq.) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) provides a regulatory structure that directly addresses issues related to alternative trading systems’ role in the marketplace. Regulation ATS allows alternative trading systems to choose between two regulatory structures. Alternative trading systems have the choice between registering as broker-dealers and complying with Regulation ATS or registering as national securities exchanges. Regulation ATS provides the regulatory framework for those alternative trading systems that choose to be regulated as broker-dealers. Rule 302 of Regulation ATS describes the recordkeeping requirements for alternative trading systems that are not national securities exchanges. Under Rule 302, alternative trading systems are required to make a record of subscribers to the alternative trading system, daily summaries of trading in the alternative trading system, and time-sequenced records of order information in the alternative trading system. The information required to be collected under the Rule should increase the abilities of the Commission, state securities regulatory authorities, and the SROs to ensure that alternative trading systems are in compliance with Regulation ATS as well as other rules and regulations of the Commission and the SROs. If the information is not collected or is collected less frequently, the Commission would be severely limited in its ability to comply with its statutory obligations, provide for the protection of investors and promote the maintenance of fair and orderly markets. Respondents consist of alternative trading systems that choose to register as broker-dealers and comply with the requirements of Regulation ATS. The Commission estimates that there are currently approximately 65 respondents. An estimated 65 respondents will spend approximately 2,340 hours per year (65 respondents at 36 burden hours/respondent) to comply with the recordkeeping requirements of Rule 302. At an average cost per burden hour of $86.54, the resultant total related cost of compliance for these respondents is $202,504.00 per year (2,340 burden hours multiplied by $86.54/hour; a slight discrepancy is due to arithmetic rounding). Written comments are invited on (a) Whether the proposed collection of information is necessary for the proper E:\FR\FM\22MYN1.SGM 22MYN1

Agencies

[Federal Register Volume 72, Number 98 (Tuesday, May 22, 2007)]
[Notices]
[Pages 28730-28731]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-9808]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon written request, copies available from: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.
Extension:
    Rule 301 and Forms ATS and ATS-R, SEC File No. 270-451, OMB 
Control No. 3235-0509.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Regulation ATS (17 CFR 242.300 et seq.) under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) provides a regulatory 
structure that directly addresses issues related to alternative trading 
systems' role in the marketplace. Regulation ATS allows alternative 
trading systems to choose between two regulatory structures. 
Alternative trading systems have the choice between registering as 
broker-dealers and complying with Regulation ATS or registering as 
national securities exchanges. Regulation ATS provides the regulatory 
framework for those alternative trading systems that choose to be 
regulated as broker-dealers. Rule 301 of Regulation ATS contains 
certain notice and reporting requirements, as well as additional 
obligations that only apply to alternative trading systems with 
significant volume. Rule 301 describes the conditions with which a 
registered broker-dealer operating an alternative trading system must 
comply. The Rule requires all alternative trading systems that wish to 
comply with Regulation ATS to file an initial operation report on Form 
ATS. The initial operation report requires

[[Page 28731]]

information regarding operation of the system including the method of 
operation, access criteria and the types of securities traded. 
Alternative trading systems are also required to supply updates on Form 
ATS to the Commission, describing material changes to the system, and 
quarterly transaction reports on Form ATS-R. Alternative trading 
systems are also required to file cessation of operations reports on 
Form ATS.
    Alternative trading systems with significant volume are required to 
comply with requirements for fair access and systems capacity, 
integrity and security. Under Rule 301, such alternative trading 
systems are required to establish standards for granting access to 
trading on its system. In addition, upon a decision to deny or limit an 
investor's access to the system, an alternative trading system is 
required to provide notice to the investor of the denial or limitation 
and their right to an appeal to the Commission. Regulation ATS requires 
alternative trading systems to preserve any records made in the process 
of complying with the systems' capacity, integrity and security 
requirements. In addition, such alternative trading systems are 
required to notify Commission staff of material systems outages and 
significant systems changes.
    The Commission uses the information provided pursuant to the Rule 
to monitor the growth and development of alternative trading systems to 
confirm that investors effecting trades through the systems are 
adequately protected, and that the systems do not impede the 
maintenance of fair and orderly securities markets or otherwise operate 
in a manner that is inconsistent with the federal securities laws. In 
particular, the information collected and reported to the Commission by 
alternative trading systems enables the Commission to evaluate the 
operation of alternative trading systems with regard to national market 
system goals, and monitor the competitive effects of these systems to 
ascertain whether the regulatory framework remains appropriate to the 
operation of such systems. Without the information provided on Forms 
ATS and ATS-R, the Commission would not have readily available 
information on a regular basis in a format that will allow it to 
determine whether such systems have adequate safeguards.
    Respondents consist of alternative trading systems that choose to 
register as broker-dealers and comply with the requirements of 
Regulation ATS. The Commission estimates that there are currently 
approximately 65 respondents.
    An estimated 65 respondents will file an average total of 465 
responses per year, which corresponds to an estimated annual response 
burden of 1,982.5 hours. At an average cost per burden hour of 
approximately $95.57, the resultant total related cost of compliance 
for these respondents is $189,458.15 per year (1,982.5 burden hours 
multiplied by $95.57 per hour; a slight discrepancy is due to 
arithmetic rounding).
    Written comments are invited on (a) Whether the proposed collection 
of information is necessary for the proper performance of the functions 
of the agency, including whether the information shall have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
proposed collection of information; (c) ways to enhance the quality, 
utility, and clarity of the information collected; and (d) ways to 
minimize the burden of the collection of information on respondents, 
including through the use of automated collection techniques or other 
forms of information technology. Consideration will be given to 
comments and suggestions submitted in writing within 60 days of this 
publication.
    Comments should be directed to: R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to: PRA--Mailbox@sec.gov. Comments must be submitted within 60 
days of this notice.

    Dated: May 16, 2007.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E7-9808 Filed 5-21-07; 8:45 am]
BILLING CODE 8010-01-P