Proposed Collection; Comment Request, 52379-52380 [2010-21035]

Download as PDF Federal Register / Vol. 75, No. 164 / Wednesday, August 25, 2010 / Notices 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. srobinson on DSKHWCL6B1PROD with NOTICES Extension: Rule 17a–3(a)(16); SEC File No. 270–452; OMB Control No. 3235–0508. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. Sec. 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–3(a)(16) (17 CFR Sec. 240.17a–3(a)(16)) under the Securities Exchange Act of 1934 (the ‘‘Act’’) (15 U.S.C. 78q et seq.) identifies the records required to be made by broker-dealers that operate internal broker-dealer systems. Those records are to be used in monitoring compliance with the Commission’s financial responsibility program and antifraud and antimanipulative rules, as well as other rules and regulations of the Commission and the self-regulatory organizations. It is estimated that approximately 105 active broker-dealer respondents registered with the Commission incur an average burden of 2,835 hours per year (105 respondents multiplied by 27 burden hours per respondent equals 2,835 total burden hours) to comply with this rule.1 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 to be 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 1 The average cost per hour is $258. Therefore the total cost of compliance for the respondents is $731,430. VerDate Mar<15>2010 17:48 Aug 24, 2010 Jkt 220001 writing within 60 days of this publication. Comments should be directed to: Charles Boucher, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 days of this notice. Dated: August 17, 2010. Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–21033 Filed 8–24–10; 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: Regulation A; OMB Control No. 3235– 0286; SEC File No. 270–110 (Forms 1–A and 2–A). 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 this request for extension of the previously approved collection of information discussed below. Regulation A (17 CFR 230.251 through 230.263) provides an exemption from registration under the Securities Act of 1933 (15 U.S.C. 77a et seq.) for certain limited offerings of securities by issuers who do not otherwise file reports with the Commission. Form 1–A is an offering statement filed under Regulation A. Form 2–A is used to report sales and use of proceeds in Regulation A offerings. All information is provided to the public for review. The information required is filed on occasion and is mandatory. We estimate approximately 100 issuers file Forms 1–A and 2–A annually. We estimate that Form 1–A takes approximately 608 hours to prepare, Form 2–A takes approximately 12 hours to prepare, and Regulation A takes one administrative hour to review for a total of 621 hours per response. We estimate that 75% of 621 hours per response (465.75 hours) is prepared by the company for a total annual burden of 46,575 hours (465.75 × 100 responses). PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 52379 An agency may conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Written comments regarding the above information should be directed to the following persons: (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/CIO 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: August 18, 2010. Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–21034 Filed 8–24–10; 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 20549–2013. Revision: Rule 602; SEC File No. 270–404; OMB Control No. 3235–0461. 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 602 of Regulation NMS (17 CFR 240.602), under the Securities 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 revision and approval. Rule 602 of Regulation NMS, Dissemination of Quotations in NMS securities, contains two related collections. The first collection of information is found in Rule 602(a).1 This reporting requirement obligates each national securities exchange and 1 17 E:\FR\FM\25AUN1.SGM CFR 242.602(a). 25AUN1 52380 Federal Register / Vol. 75, No. 164 / Wednesday, August 25, 2010 / Notices national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each ‘‘subject security,’’ as defined under the Rule. The second collection of information is found in Rule 602(b).2 This reporting requirement obligates exchange members and over-the-counter (‘‘OTC’’) market makers that are a ‘‘responsible broker or dealer,’’ as defined under the Rule, to communicate to an exchange or association their best bids, best offers, and quotation sizes for subject securities.3 It is anticipated that 15 respondents, consisting of 14 national securities exchanges and one national securities association, will collectively respond approximately 741,127,661,148 times per year pursuant to Rule 602(a) at 18.22 microseconds per response, resulting in an annual aggregate burden of approximately 3,750 hours. It is anticipated that approximately 130 respondents, consisting of OTC market makers, will collectively respond approximately 24,440,000 times per year pursuant to Rule 602(b) at 3 seconds per response, resulting in an annual aggregate burden of approximately 20,367 hours. Written comments are invited on: (a) Whether the proposed collections of information are necessary for the proper performance of the functions of the Commission, including whether the information will have practical utility; (b) the accuracy of the Commission’s estimate of the burden of the proposed collections of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of collections of information on those who are to respond, 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 2 17 CFR 242.602(b). Rule 602(b)(5), electronic communications networks (‘‘ECNs’’) have the option of reporting to an exchange or association for public dissemination, on behalf of customers that are OTC market makers or exchange market makers, the bestpriced orders and the full size for such orders entered by market makers on the ECN, to satisfy such market makers’ reporting obligation under Rule 602(b). Since this reporting requirement is an alternative method of meeting the market makers’ reporting obligation, and because it is directed to nine or fewer persons (ECNs), this collection of information is not subject to OMB review under the Paperwork Reduction Act (‘‘PRA’’). srobinson on DSKHWCL6B1PROD with NOTICES 3 Under VerDate Mar<15>2010 17:48 Aug 24, 2010 Jkt 220001 Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to: PRA_Mailbox@sec.gov. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Dated: August 18, 2010. Florence E. Harmon, Deputy Secretary. In its filing with the Commission, FINRA included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. FINRA has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. [FR Doc. 2010–21035 Filed 8–24–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62739; File No. SR–FINRA– 2010–044] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change Relating to the Expansion of the Order Audit Trail System to All NMS Stocks August 18, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on August 6, 2010, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by FINRA. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to amend the Order Audit Trail System (‘‘OATS’’) rules to extend the recording and reporting requirements to all NMS stocks, as that term is defined in Rule 600(b)(47) of Regulation NMS,3 and to exclude certain firms that became FINRA members pursuant to NASD IM– 1013–1 or NASD IM–1013–2 and the rules of the NYSE and that have limited trading activities. The text of the proposed rule change is available on FINRA’s Web site at https://www.finra.org, at the principal office of FINRA, at the Commission’s Web site at https://www.sec.gov, and at the Commission’s Public Reference Room. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 17 CFR 242.600(b)(47). 2 17 PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose FINRA Rules 7410 through 7470 (the ‘‘OATS Rules’’) impose obligations on FINRA members to record in electronic form and report to FINRA on a daily basis certain information with respect to orders originated, received, transmitted, modified, canceled, or executed by members relating to OTC equity securities and equity securities listed and traded on The Nasdaq Stock Market, Inc. (‘‘Nasdaq’’).4 OATS captures this order information and integrates it with quote and transaction information to create a time-sequenced record of orders, quotes, and transactions. This information is then used by FINRA staff to conduct surveillance and investigations of member firms for violations of FINRA rules and Federal securities laws. To enhance the effectiveness of OATS as a regulatory tool, FINRA is proposing to amend the OATS Rules to extend the recording and reporting requirements to all NMS stocks, as that term is defined in Rule 600(b)(47) of Regulation NMS.5 The proposed rule change would thus effectively extend the OATS recording and reporting requirements to NMS stocks listed on markets other than 4 As amended by SR–FINRA–2010–003, FINRA Rule 7410 defines an ‘‘OTC equity security’’ for purposes of the OATS Rules as an equity security that is not an NMS stock, except that the term does not include restricted equity securities and direct participation programs, as those terms are defined in FINRA Rule 6420. See Securities Exchange Act Release No. 61979 (April 23, 2010), 75 FR 23316 (May 3, 2010) (Order Approving File No. SR– FINRA–2010–003). 5 Rule 600(b)(47) of Regulation NMS defines ‘‘NMS stock’’ as ‘‘any NMS security other than an option.’’ 17 CFR 242.600(b)(47). An ‘‘NMS security’’ is defined as ‘‘any security or class of securities for which transaction reports are collected, processed, and made available pursuant to an effective transaction reporting plan, or an effective national market system plan for reporting transactions in listed options.’’ 17 CFR 242.600(b)(46). E:\FR\FM\25AUN1.SGM 25AUN1

Agencies

[Federal Register Volume 75, Number 164 (Wednesday, August 25, 2010)]
[Notices]
[Pages 52379-52380]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-21035]


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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 
20549-2013.

Revision:
    Rule 602; SEC File No. 270-404; OMB Control No. 3235-0461.

    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 602 of Regulation NMS 
(17 CFR 240.602), under the Securities 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 revision and 
approval.
    Rule 602 of Regulation NMS, Dissemination of Quotations in NMS 
securities, contains two related collections. The first collection of 
information is found in Rule 602(a).\1\ This reporting requirement 
obligates each national securities exchange and

[[Page 52380]]

national securities association to make available to quotation vendors 
for dissemination to the public the best bid, best offer, and aggregate 
quotation size for each ``subject security,'' as defined under the 
Rule. The second collection of information is found in Rule 602(b).\2\ 
This reporting requirement obligates exchange members and over-the-
counter (``OTC'') market makers that are a ``responsible broker or 
dealer,'' as defined under the Rule, to communicate to an exchange or 
association their best bids, best offers, and quotation sizes for 
subject securities.\3\
---------------------------------------------------------------------------

    \1\ 17 CFR 242.602(a).
    \2\ 17 CFR 242.602(b).
    \3\ Under Rule 602(b)(5), electronic communications networks 
(``ECNs'') have the option of reporting to an exchange or 
association for public dissemination, on behalf of customers that 
are OTC market makers or exchange market makers, the best-priced 
orders and the full size for such orders entered by market makers on 
the ECN, to satisfy such market makers' reporting obligation under 
Rule 602(b). Since this reporting requirement is an alternative 
method of meeting the market makers' reporting obligation, and 
because it is directed to nine or fewer persons (ECNs), this 
collection of information is not subject to OMB review under the 
Paperwork Reduction Act (``PRA'').
---------------------------------------------------------------------------

    It is anticipated that 15 respondents, consisting of 14 national 
securities exchanges and one national securities association, will 
collectively respond approximately 741,127,661,148 times per year 
pursuant to Rule 602(a) at 18.22 microseconds per response, resulting 
in an annual aggregate burden of approximately 3,750 hours.
    It is anticipated that approximately 130 respondents, consisting of 
OTC market makers, will collectively respond approximately 24,440,000 
times per year pursuant to Rule 602(b) at 3 seconds per response, 
resulting in an annual aggregate burden of approximately 20,367 hours.
    Written comments are invited on: (a) Whether the proposed 
collections of information are necessary for the proper performance of 
the functions of the Commission, including whether the information will 
have practical utility; (b) the accuracy of the Commission's estimate 
of the burden of the proposed collections of information; (c) ways to 
enhance the quality, utility, and clarity of the information to be 
collected; and (d) ways to minimize the burden of collections of 
information on those who are to respond, 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, Virginia 22312 
or send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: August 18, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-21035 Filed 8-24-10; 8:45 am]
BILLING CODE 8010-01-P
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