Submission for OMB Review; Comment Request, 45281 [E7-15736]

Download as PDF Federal Register / Vol. 72, No. 155 / Monday, August 13, 2007 / Notices SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Assistance, Washington, DC 20549–0213. 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 Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. 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 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 VerDate Aug<31>2005 16:19 Aug 10, 2007 Jkt 211001 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 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). Compliance with Rule 303 is mandatory. The information required by the Rule 303 is available only to the examination of the Commission staff, state securities authorities and the SROs. Subject to the provisions of the Freedom of Information Act, 5 U.S.C. 522, and the Commission’s rules thereunder (17 CFR 200.80(b)(4)(iii)), the Commission does not generally publish or make available information contained in any reports, summaries, analyses, letters, or memoranda arising out of, in anticipation of, or in connection with an examination or inspection of the books and records of any person or any other investigation. Regulation ATS requires alternative trading systems to preserve any records, for at least three years, made in the process of complying with the systems capacity, integrity and security requirements. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Comments should be directed to (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or by sending an e-mail to: David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and Exchange PO 00000 Frm 00067 Fmt 4703 Sfmt 4703 45281 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 30 days of this notice. Dated: July 30, 2007. Nancy M. Morris, Secretary. [FR Doc. E7–15736 Filed 8–10–07; 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 Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 17a–7; SEC File No. 270–147; OMB Control No. 3235–0131. 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. Rule 17a–7 (17 CFR 240.17a–7) under the Securities Exchange Act of 1934 (‘‘Exchange Act’’) (15 U.S.C. 78a et seq.) requires non-resident broker-dealers registered or applying for registration pursuant to section 15 of the Exchange Act to maintain—in the United States— complete and current copies of books and records required to be maintained under any rule adopted under the Securities Exchange Act of 1934. Alternatively, Rule 17a–7 provides that the non-resident broker-dealer may sign a written undertaking to furnish the requisite books and records to the Commission upon demand. There are approximately 54 nonresident brokers and dealers. Based on the Commission’s experience in this area, it is estimated that the average amount of time necessary to preserve the books and records required by Rule 17a–7 is one hour per year. Accordingly, the total burden is 54 hours per year. With an average cost per hour of approximately $245, the total cost of compliance for the respondents is $13,230 per year. Written comments are invited on: (a) Whether the proposed collection of E:\FR\FM\13AUN1.SGM 13AUN1

Agencies

[Federal Register Volume 72, Number 155 (Monday, August 13, 2007)]
[Notices]
[Page 45281]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-15736]



[[Page 45281]]

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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Assistance, Washington, DC 
20549-0213.

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 Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
    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 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 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).
    Compliance with Rule 303 is mandatory. The information required by 
the Rule 303 is available only to the examination of the Commission 
staff, state securities authorities and the SROs. Subject to the 
provisions of the Freedom of Information Act, 5 U.S.C. 522, and the 
Commission's rules thereunder (17 CFR 200.80(b)(4)(iii)), the 
Commission does not generally publish or make available information 
contained in any reports, summaries, analyses, letters, or memoranda 
arising out of, in anticipation of, or in connection with an 
examination or inspection of the books and records of any person or any 
other investigation.
    Regulation ATS requires alternative trading systems to preserve any 
records, for at least three years, made in the process of complying 
with the systems capacity, integrity and security requirements.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.
    Comments should be directed to (i) Desk Officer for the Securities 
and Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503 or by sending an e-mail to: David--
Rostker@omb.eop.gov; and (ii) 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 30 
days of this notice.

    Dated: July 30, 2007.
Nancy M. Morris,
Secretary.
 [FR Doc. E7-15736 Filed 8-10-07; 8:45 am]
BILLING CODE 8010-01-P