Sunshine Act Meeting, 39711 [2010-17057]
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Federal Register / Vol. 75, No. 132 / Monday, July 12, 2010 / Notices
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 existing collection of information
provided for in Rule 303 (17 CFR
242.303) of Regulation ATS (17 CFR
242.300 et seq.) under the Securities and
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
for extension and approval.
Regulation ATS sets forth a regulatory
regime for ‘‘alternative trading systems’’
(‘‘ATSs’’), which are entities that carry
out exchange functions but which are
not required to register as national
securities exchanges under the Act. In
lieu of exchange registration, an ATS
can instead opt to register with the
Commission as a broker-dealer and, as
a condition to not having to register as
an exchange, must instead comply with
Regulation ATS. Rule 303 of Regulation
ATS (17 CFR 242.303) describes the
record preservation requirements for
ATSs. Rule 303 also describes how such
records must be maintained, what
entities may perform this function, and
how long records must be preserved.
Under Rule 303, ATSs are required to
preserve all records made pursuant to
Rule 302, which includes information
relating to subscribers, trading
summaries, and time-sequenced order
information. Rule 303 also requires
ATSs to preserve any notices provided
to subscribers, including, but not
limited to, notices regarding the ATSs
operations and subscriber access. For an
ATS subject to the fair access
requirements described in Rule
301(b)(5)(ii) of Regulation ATS, Rule
303 further requires the ATS to preserve
at least one copy of its standards for
access to trading, all documents relevant
to the ATS’s decision to grant, deny, or
limit access to any person, and all other
documents made or received by the ATS
in the course of complying with Rule
301(b)(5) of Regulation ATS. For an ATS
subject to the capacity, integrity, and
security requirements for automated
systems under Rule 301(b)(6) of
Regulation ATS, Rule 303 requires an
ATS to preserve all documents made or
received by the ATS related to its
compliance, including all
correspondence, memoranda, papers,
books, notices, accounts, reports, test
scripts, test results, and other similar
records. As provided in Rule 303(a)(1),
ATSs are required to keep all of these
records, as applicable, for a period of at
least three years, the first two in an
easily accessible place. In addition, Rule
303 requires ATSs to preserve records of
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partnership articles, articles of
incorporation or charter, minute books,
stock certificate books, copies of reports
filed pursuant to Rule 301(b)(2), and
records made pursuant to Rule 301(b)(5)
for the life of the ATS.
The information contained in the
records required to be preserved by Rule
303 will be used by examiners and other
representatives of the Commission, State
securities regulatory authorities, and the
self-regulatory organizations to ensure
that ATSs are in compliance with
Regulation ATS as well as other
applicable rules and regulations.
Without the data required by the Rule,
regulators would be limited in their
ability to comply with their statutory
obligations, provide for the protection of
investors, and promote the maintenance
of fair and orderly markets.
Respondents consist of ATSs that
choose to register as broker-dealers and
comply with the requirements of
Regulation ATS. There are currently 81
respondents. To comply with the record
preservation requirements of Rule 303,
these respondents will spend
approximately 1,215 hours per year (81
respondents at 15 burden hours/
respondent). At an average cost per
burden hour of $106, the resultant total
related cost of compliance for these
respondents is $128,790 per year (1,215
burden hours multiplied by $106/hour).
Written comments are invited on (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates 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.
Please direct your written comments
to: 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.
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a Closed Meeting
on Thursday, July 15, 2010 at 2 p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (5), (7), 9(ii)
and (10), permit consideration of the
scheduled matters at the Closed
Meeting.
Commissioner Casey, as duty officer,
voted to consider the items listed for the
Closed Meeting in a closed session.
The subject matter of the Closed
Meeting scheduled for Thursday, July
15, 2010 will be:
Institution and settlement of injunctive
actions;
Institution and settlement of
administrative proceedings;
Consideration of amicus participation;
and
Other matters relating to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
Dated: July 8, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–17057 Filed 7–8–10; 4:15 pm]
BILLING CODE 8011–01–P
Dated: June 29, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–16841 Filed 7–9–10; 8:45 am]
BILLING CODE 8010–01–P
PO 00000
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[Federal Register Volume 75, Number 132 (Monday, July 12, 2010)]
[Notices]
[Page 39711]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-17057]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday, July
15, 2010 at 2 p.m.
Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matters at the Closed Meeting.
Commissioner Casey, as duty officer, voted to consider the items
listed for the Closed Meeting in a closed session.
The subject matter of the Closed Meeting scheduled for Thursday,
July 15, 2010 will be:
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings;
Consideration of amicus participation; and
Other matters relating to enforcement proceedings.
At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact:
The Office of the Secretary at (202) 551-5400.
Dated: July 8, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-17057 Filed 7-8-10; 4:15 pm]
BILLING CODE 8011-01-P
