Submission for OMB Review; Comment Request, 32824 [2010-13834]

Download as PDF 32824 Federal Register / Vol. 75, No. 110 / Wednesday, June 9, 2010 / Notices techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comments to Charles Boucher, Director/CIO, 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. Dated: June 2, 2010. Elizabeth M. Murphy, Secretary. [FR Doc. 2010–13832 Filed 6–8–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION erowe on DSK5CLS3C1PROD with NOTICES Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 10b-10; SEC File No. 270–389; OMB Control No. 3235–0444. 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 approval of extension of the previously approved collection of information provided for in Rule 10b-10 (17 CFR 240.10b–10) under the Securities and Exchange Act of 1934 (15 U.S.C. 78a et seq.) Rule 10b–10 requires broker-dealers to convey basic trade information to customers regarding their securities transactions. This information includes: the date and time of the transaction, the identity and number of shares bought or sold, and the trading capacity of the broker-dealer. Depending on the trading capacity of the broker-dealer, Rule 10b– 10 requires the disclosure of commissions as well as mark-up and mark-down information. For transactions in debt securities, Rule 10b–10 requires the disclosure of redemption and yield information. Rule 10b–10 potentially applies to all of the approximately 5,178 firms registered with the Commission that effect transactions on behalf of customers. Based on information provided by registered broker-dealers to the Commission in FOCUS Reports, the Commission staff estimates that on average, registered broker-dealers process approximately 1.4 billion order VerDate Mar<15>2010 15:10 Jun 08, 2010 Jkt 220001 tickets per month for transactions on behalf of customers. Each order ticket representing a transaction effected on behalf of a customer results in one confirmation. Therefore, the Commission staff estimates that approximately 16.8 billion confirmations are sent to customers annually. The confirmations required by Rule 10b–10 are generally processed through automated systems. It takes approximately 1 minute to generate and send a confirmation. Accordingly, the Commission estimates that brokerdealers spend 280 million hours per year complying with Rule 10b–10. The amount of confirmations sent and the cost of sending each confirmation varies from firm to firm. Smaller firms generally send fewer confirmations than larger firms because they effect fewer transactions. The Commission staff estimates the costs of producing and sending a paper confirmation, including postage to be approximately 96 cents. The Commission staff also estimates that the cost of producing a sending a wholly electronic confirmation is approximately 52 cents. Based on informal discussions with industry participants as well as no-action positions taken in this area, the staff estimates that broker-dealers used electronic confirmations for approximately 25 percent of transactions. Based on these calculations, Commission staff estimates that 12,600,000,000 paper confirmations are mailed each year at a cost of $12,096,000,000. Commission staff also estimates that 4,200,000,000 wholly electronic confirmations are sent each year at a cost of $2,184,000,000. Accordingly, Commission staff estimates that total annual cost associated with generating and delivering to investors the information required under Rule 10b–10 would be $14,280,000,000. 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 send an e-mail to: Shagufta_Ahmed@omb.eop.gov; and (ii) Charles Boucher 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 PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 must be submitted to OMB within 30 days of this notice. Dated: June 2, 2010. Elizabeth M. Murphy, Secretary. [FR Doc. 2010–13834 Filed 6–8–10; 8:45 am] BILLING CODE 8010–01–P 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 Advocacy, Washington, DC 20549–0213. Extension: Form 1, Rules 6a–1 and 6a–2; SEC File No. 270–0017; OMB Control No. 3235–0017. 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. The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq. (the ‘‘Act’’) sets forth a regulatory scheme for national securities exchanges. Rule 6a–1 (17 CFR 240.6a–1) under the Act generally requires an applicant for initial registration as a national securities exchange to file an application with the Commission on Form 1 (17 CFR 249.1). An exchange that seeks an exemption from registration based on limited trading volume also must apply for such exemption on Form 1. Rule 6a–2 (17 CFR 240.6a–2) under the Act requires registered and exempt exchanges: (1) To amend the Form 1 if there are any material changes to the information provided in the initial Form 1; and (2) to submit periodic updates of certain information provided in the initial Form 1, whether such information has changed or not. The information required pursuant to Rules 6a–1 and 6a– 2 is necessary to enable the Commission to maintain accurate files regarding the exchange and to exercise its statutory oversight functions. Without the information submitted pursuant to Rule 6a–1 on Form 1, the Commission would not be able to determine whether the respondent met the criteria for registration or exemption set forth in Sections 6 and 19 of the Act. Without the amendments and periodic updates of information submitted pursuant to Rule 6a–2, the Commission would have E:\FR\FM\09JNN1.SGM 09JNN1

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[Federal Register Volume 75, Number 110 (Wednesday, June 9, 2010)]
[Notices]
[Page 32824]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-13834]


-----------------------------------------------------------------------

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 Advocacy, 
Washington, DC 20549-0213.
    Extension: Rule 10b-10; SEC File No. 270-389; OMB Control No. 3235-
0444.
    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 approval of extension of the previously approved collection 
of information provided for in Rule 10b-10 (17 CFR 240.10b-10) under 
the Securities and Exchange Act of 1934 (15 U.S.C. 78a et seq.)
    Rule 10b-10 requires broker-dealers to convey basic trade 
information to customers regarding their securities transactions. This 
information includes: the date and time of the transaction, the 
identity and number of shares bought or sold, and the trading capacity 
of the broker-dealer. Depending on the trading capacity of the broker-
dealer, Rule 10b-10 requires the disclosure of commissions as well as 
mark-up and mark-down information. For transactions in debt securities, 
Rule 10b-10 requires the disclosure of redemption and yield 
information. Rule 10b-10 potentially applies to all of the 
approximately 5,178 firms registered with the Commission that effect 
transactions on behalf of customers.
    Based on information provided by registered broker-dealers to the 
Commission in FOCUS Reports, the Commission staff estimates that on 
average, registered broker-dealers process approximately 1.4 billion 
order tickets per month for transactions on behalf of customers. Each 
order ticket representing a transaction effected on behalf of a 
customer results in one confirmation. Therefore, the Commission staff 
estimates that approximately 16.8 billion confirmations are sent to 
customers annually. The confirmations required by Rule 10b-10 are 
generally processed through automated systems. It takes approximately 1 
minute to generate and send a confirmation. Accordingly, the Commission 
estimates that broker-dealers spend 280 million hours per year 
complying with Rule 10b-10.
    The amount of confirmations sent and the cost of sending each 
confirmation varies from firm to firm. Smaller firms generally send 
fewer confirmations than larger firms because they effect fewer 
transactions. The Commission staff estimates the costs of producing and 
sending a paper confirmation, including postage to be approximately 96 
cents. The Commission staff also estimates that the cost of producing a 
sending a wholly electronic confirmation is approximately 52 cents. 
Based on informal discussions with industry participants as well as no-
action positions taken in this area, the staff estimates that broker-
dealers used electronic confirmations for approximately 25 percent of 
transactions. Based on these calculations, Commission staff estimates 
that 12,600,000,000 paper confirmations are mailed each year at a cost 
of $12,096,000,000. Commission staff also estimates that 4,200,000,000 
wholly electronic confirmations are sent each year at a cost of 
$2,184,000,000. Accordingly, Commission staff estimates that total 
annual cost associated with generating and delivering to investors the 
information required under Rule 10b-10 would be $14,280,000,000.
    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 send an e-mail to: Shagufta_Ahmed@omb.eop.gov; and (ii) Charles Boucher 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 to OMB within 30 days of 
this notice.

    Dated: June 2, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-13834 Filed 6-8-10; 8:45 am]
BILLING CODE 8010-01-P
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