Submission for OMB Review; Comment Request, 594-596 [2010-33271]
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Federal Register / Vol. 76, No. 3 / Wednesday, January 5, 2011 / Notices
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The Postal Service believes that the
instant agreement should be included
within the GEPS 3 product because it is
functionally equivalent to the contract
filed in Docket No. CP2010–71.4 The
Postal Service explains that, in Docket
No. CP2010–71, the Commission added
GEPS 3 to the competitive product list
and established the contract filed as the
GEPS 3 baseline agreement for
comparing other functionally equivalent
contracts. Notice at 1–2 (citing Order
No. 503 at 7). It states that other GEPS
contracts may be included within the
GEPS 3 product if they are functionally
equivalent to the GEPS 3 baseline
agreement and meet the requirements of
39 U.S.C. 3633. Id. at 2.
The instant contract. The Postal
Service filed the instant contract in
accordance with 39 CFR 3015.5. The
term of the instant agreement is 5 years
from the effective date unless either
party terminates the agreement sooner.
Id. at 3; Revised Notice, Attachment 1
at 7. The Postal Service will notify the
other party of the effective date within
30 days after receiving all necessary
regulatory approvals. Revised Notice,
Attachment 1 at 7. The effective date
will be no earlier than February 17,
2011. Id.
To support the Notice, the Postal
Service filed four attachments as
follows:
• Attachment 1—a redacted copy of
the contract and an applicable annex; 5
• Attachment 2—a certified statement
required by 39 CFR 3015.5(c)(2);
• Attachment 3—a redacted copy of
Governors’ Decision No. 08–7 (with
attachments) establishing prices and
classifications for GEPS contracts and a
certification of the Governors’ vote; and
• Attachment 4—an application for
non–public treatment of materials to
maintain redacted portions of the
contract, related financial information,
and customer-identifying information
under seal.
The Postal Service contends that the
instant agreement fits within the Mail
Classification Schedule (MCS) language
for GEPS contracts included in
Governors’ Decision No. 08–7, but
understands that the Commission
considers the language illustrative until
the MCS is completed. Notice at 3
(citing Order No. 86 at 6).
The Notice advances reasons why the
instant GEPS 3 contract is functionally
Docket No. CP2008–4, issued May 6, 2008
(Governors’ Decision No. 08–7).
4 Docket Nos. MC2010–28 and CP2010–71, Order
Approving Global Expedited Package Services 3
Negotiated Service Agreement, July 29, 2010 (Order
No. 503).
5 The Postal Service filed a redacted copy of the
signed agreement as Attachment 1 to the Revised
Notice.
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16:26 Jan 04, 2011
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equivalent to the GEPS 3 baseline
agreement in Docket No. CP2010–71. Id.
at 3. The Postal Service believes that the
instant contract shares similar cost and
market characteristics with both the
baseline agreement and previous GEPS
contracts. Id. at 3–4. It also asserts that
the instant contract fits within the
parameters outlined by Governors’
Decision No. 08–7 establishing the rates
for GEPS agreements. Id. at 4.
The Postal Service identifies several
differences between the instant contract
and the GEPS 3 baseline agreement,
including customer-specific
information, payment method,
minimum revenue commitment, and
term. Id. at 4–6. Despite these
differences, the Postal Service asserts
that the instant contract is ‘‘functionally
equivalent in all pertinent respects’’ to
the GEPS 3 baseline agreement.6
The Postal Service concludes that its
filing demonstrates that the instant
GEPS 3 contract complies with the
requirements of 39 U.S.C. 3633 and is
functionally equivalent to the GEPS 3
baseline agreement. Notice at 6.
Therefore, it requests that the
Commission add the instant contract to
the GEPS 3 product grouping. Id.
II. Notice of Filing
The Commission establishes Docket
No. CP2011–54 to consider matters
related to the contract identified in the
Postal Service’s Notice.
Interested persons may submit
comments on whether the Postal
Service’s contract is consistent with the
policies of 39 U.S.C. 3632, 3633, or 39
CFR part 3015. Comments are due no
later than January 10, 2011. The public
portions of this filing can be accessed
via the Commission’s Web site (https://
www.prc.gov).
The Commission appoints Paul L.
Harrington to serve as Public
Representative in the captioned
proceeding.
III. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket
No. CP2011–54 to consider matters
raised by the Postal Service’s Notice.
2. Comments by interested persons in
this proceeding are due no later than
January 10, 2011.
3. Pursuant to 39 U.S.C. 505, Paul L.
Harrington is appointed to serve as the
officer of the Commission (Public
Representative) to represent the
interests of the general public in this
proceeding.
6 Revised Notice at 6 (citing Docket Nos. CP2008–
8, CP2008–9, and CP2008–10, Order No. 85, Order
Concerning Global Plus Negotiated Service
Agreements, June 27, 2008, at 8).
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4. The Secretary shall arrange for
publication of this order in the Federal
Register.
By the Commission.
Shoshana M. Grove,
Secretary.
[FR Doc. 2010–33317 Filed 1–4–11; 8:45 am]
BILLING CODE 7710–FW–P
POSTAL SERVICE
Board of Governors; Sunshine Act
Meeting
4 p.m., Monday,
January 10, 2011; and 9 a.m., Tuesday,
January 11, 2011.
PLACE: Long Beach, California, at the
Renaissance Hotel, 111 East Ocean
Boulevard.
STATUS: (Closed).
MATTERS TO BE CONSIDERED:
TIMES AND DATES:
Monday, January 10, at 4 p.m. (Closed)
1. Financial Matters.
2. Pricing.
3. Strategic Issues.
4. Personnel Matters and
Compensation Issues.
5. Governors’ Executive Session—
Discussion of prior agenda items and
Board Governance.
Tuesday, January 11, at 9 a.m. (Closed)
1. Continuation of Monday’s agenda.
CONTACT PERSON FOR MORE INFORMATION:
Julie S. Moore, Secretary of the Board,
U.S. Postal Service, 475 L’Enfant Plaza,
SW., Washington, DC 20260–1000.
Telephone (202) 268–4800.
Julie S. Moore,
Secretary.
[FR Doc. 2010–33358 Filed 1–3–11; 4:15 pm]
BILLING CODE 7710–12–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
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’’) has submitted to the
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jlentini on DSKJ8SOYB1PROD with NOTICES
Federal Register / Vol. 76, No. 3 / Wednesday, January 5, 2011 / Notices
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
Regulation ATS provides a regulatory
structure for alternative trading systems.
Regulation ATS allows an alternative
trading system to choose between
registering as a broker-dealer and
complying with Regulation ATS, or
registering as a national securities
exchange. 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 apply
only to alternative trading systems with
significant volume. Rule 301 describes
the conditions with which an
alternative trading system must comply
to be registered as a broker-dealer. 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
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.
An alternative trading system with
significant volume is required to comply
with requirements for fair access and
systems capacity, integrity and security.
Under Rule 301, such alternative trading
system is also 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 a user of the denial or
limitation and its 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, and to
monitor whether the systems promote
fair and orderly securities markets and
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operate in a manner that is consistent
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 would 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 80
respondents.
An estimated 80 respondents will file
an average total of 552 responses per
year, which corresponds to an estimated
aggregated annual response burden of
1,792.5 hours (comprised of 1,356 hours
professional labor and 436.5 hours paraprofessional labor). At an average cost
per burden hour of approximately $316
for professional labor and $59 for paraprofessional labor, with an additional
35% of labor costs added to account for
overhead costs such as printing,
copying, and postage, the resultant total
related cost of compliance for these
respondents is $613,236.82 per year
((1,356 professional burden hours
multiplied by $316) plus (436.5 paraprofessional burden hours multiplied by
$59) equals $454,249.50; plus 35% for
overhead costs ($158,987.32) equals
$613,236.82; figures may vary slightly
due to arithmetic rounding).
An estimated 5 respondents will
commence operations as an ATS each
year, necessitating the filing of an initial
operation report on Form ATS. The
Commission estimates that the average
compliance burden for each respondent
would be 20 hours, comprising 13 hours
of in-house professional work and 7
hours of clerical work. Thus, the total
compliance burden per year is 100
hours (5 responses × 20 hours = 100
hours). The total cost of compliance for
the annual burden is $22,605 ($316 × 13
hours per response + $59 × 7 hours per
response = $4,521 per response; $4,521
× 5 responses = $22,605). In addition,
estimated overhead costs for printing,
copying, and postage equal to 35% of
the value of labor costs amount to
$1,582.35 per respondent ($4,521 times
35%). Thus, the Commission estimates
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595
the total annualized cost burden would
be $7,911.75 ($1,582.35 × 5
respondents).
An estimated 80 respondents will file
an estimated two periodic amendments
to their initial operation report on Form
ATS each year, an estimated total of 160
responses. The Commission estimates
that the average compliance burden for
each response would be 2 hours,
comprising 1.5 hours of in-house
professional work and 0.5 hours of
clerical work. Thus, the total
compliance burden per year is 320
hours (160 responses × 2 hours = 320
hours). The total cost of compliance for
the annual burden is $1,007 ($316 × 1.5
hours per response + $59 × 0.5 hours per
response = $503.50 per response;
$503.50 × 160 responses = $80,560). In
addition, estimated overhead costs for
printing, copying, and postage equal to
35% of the value of labor costs amount
to $176.23 per response ($503.50 times
35%). Thus, the Commission estimates
the annualized cost burden for each
respondent would be $352.46 ($176.23
× 2 responses per respondent) and the
total annualized cost burden for all
respondents would be $28,196.80
($176.23 × 80 respondents × 2 responses
per respondent).
An estimated 80 respondents will file
four quarterly reports on Form ATS–R
each year for an estimated total of 320
responses. The Commission estimates
that that the average compliance burden
for each response would be 4 hours,
comprising 3 hours of in-house
professional work and 1 hour of clerical
work. Thus, the total compliance
burden per year is 1,280 hours (320
responses × 4 hours = 1,280 hours). The
total cost of compliance for the annual
burden is $322,240 ($316 × 3 hours per
response + $59 × 1 hours per response
= $1,007 per response; $1,007 × 320
responses = $322,240). In addition,
estimated overhead costs for printing,
copying, and postage equal to 35% of
the value of labor costs amount to
$352.45 per response ($1,007 times
35%). Thus, the Commission estimates
the annualized cost burden for each
respondent would be $1,409.80 ($352.45
× 4 responses per respondent) and the
total annualized cost burden for all
respondents would be $112,784
($352.45 × 80 respondents × 4 responses
per respondent).
An estimated three respondents will
be required to file a cessation of
operations report on Form ATS each
year. The Commission estimates that the
average compliance burden for each
response would be 2 hours, comprising
1.5 hours of in-house professional work
and 0.5 hours of clerical work. Thus, the
total compliance burden per year is 6
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Federal Register / Vol. 76, No. 3 / Wednesday, January 5, 2011 / Notices
hours (3 responses × 2 hours = 6 hours).
The total cost of compliance for the
annual burden is $1,510.50 ($316 × 1.5
hours per response + $59 × 0.5 hours per
response = $503.50 per response;
$503.50 × 3 responses = $1,510.50). In
addition, estimated overhead costs for
printing, copying, and postage equal to
35% of the value of labor costs amount
to $176.23 per respondent ($503.5 times
35%). Thus, the Commission estimates
the total annualized cost burden would
be $528.69 ($176.23 × 3 respondents).
An estimated two respondents will
meet certain volume thresholds
requiring them to establish standards for
granting access on its trading system.
The Commission estimates that the
average compliance burden for each
response would be 5 hours of in-house
professional work at $316 per hour.
Thus, the total compliance burden per
year is 10 hours (2 responses × 5 hours
= 10 hours). The total cost of
compliance for the annual burden is
$3,160 ($316 × 5 hours per response ×
2 responses = $3,160). In addition,
estimated overhead costs for printing,
copying, and postage equal to 35% of
the value of labor costs amount to $553
per response ($1,580 times 35%). Thus,
the Commission estimates the total
annualized cost burden would be $1,106
($553 × 2 respondents).
An estimated two respondents will
meet certain volume thresholds
requiring them to provide notice to any
user upon any decision to deny or limit
that user’s access to the system, and
these notice obligations will be triggered
an estimated 27 times per year for each
respondent. The Commission estimates
that the average compliance burden for
each response would be 1 hour of inhouse professional work at $316 per
hour. Thus, the total compliance burden
per year is 54 hours (2 respondents × 27
responses each × 1 hour = 54 hours).
The total cost of compliance for the
annual burden is $17,064 ($316 × 1 hour
per response × 54 responses = $17,064).
In addition, estimated overhead costs
for printing, copying, and postage equal
to 35% of the value of labor costs
amount to $110.60 per response ($316
times 35%). Thus, the Commission
estimates the annualized cost burden for
each respondent would be $2,986.20
($110.60 × 27 responses per respondent)
and the total annualized cost burden for
all respondents would be $5,972.40
($110.60 × 2 respondents × 27 responses
per respondent).
An estimated two respondents will
meet certain volume thresholds
requiring them to keep records relating
to any steps taken to comply with
systems capacity, integrity, and security
requirements under Rule 301. The
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17:55 Jan 04, 2011
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Commission estimates that the average
compliance burden for each response
would be 10 hours of in-house
professional work at $316 per hour.
Thus, the total compliance burden per
year is 20 hours (2 respondents × 10
hours = 20 hours). The total cost of
compliance for the annual burden is
$6,320 ($316 × 20 hours = $6,320). In
addition, estimated overhead costs for
printing, copying, and postage equal to
35% of the value of labor costs amount
to $1,106 per response ($3,160 times
35%). Thus, the Commission estimates
the total annualized cost burden would
be $2,212 ($1,106 × 2 respondents).
An estimated two respondents will
meet certain volume thresholds
requiring them to provide a notice to the
Commission to report any systems
outages, and these notice obligations
will be triggered an estimated 5 times
per year for each respondent. The
Commission estimates that the average
compliance burden for each response
would be .25 hours of in-house
professional work at $316 per hour.
Thus, the total compliance burden per
year is 2.5 hours (2 respondents × 5
responses each × .25 hours = 2.5 hours).
The total cost of compliance for the
annual burden is $790 ($316 × .25 hours
per response × 10 responses = $790). In
addition, estimated overhead costs for
printing, copying, and postage equal to
35% of the value of labor costs amount
to $27.65 per response ($79 times 35%).
Thus, the Commission estimates the
annualized cost burden for each
respondent would be $138.25 ($27.65 ×
5 responses per respondent) and the
total annualized cost burden for all
respondents would be $276.50 ($27.65 ×
2 respondents × 5 responses per
respondent).
Compliance with Rule 301 is
mandatory. The information required by
the Rule 301 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 (‘‘FOIA’’), 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
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conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it displays a
currently valid control number.
The public may view the background
documentation for this information
collection at the following Web site,
https://www.reginfo.gov. 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:
Shagufta_Ahmed@omb.eop.gov; and (ii)
Thomas Bayer, Chief Information
Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon,
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: December 30, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–33271 Filed 1–4–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63612; File No. SR–FICC–
2010–10]
Self-Regulatory Organizations; Fixed
Income Clearing Corporation; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Modifications to the Fee Schedule
December 29, 2010.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 notice is hereby given that on
December 21, 2010, the Fixed Income
Clearing Corporation (‘‘FICC’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II, which Items have been
prepared primarily by FICC. FICC filed
the proposed rule change pursuant to
Section 19(b)(3)(A)(ii) of the Act 2 and
Rule 19b–4(f)(2) 3 thereunder so that the
proposal was effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
1 15
U.S.C. 78s(b)(1).
U.S.C. 78s(b)(3)(A)(ii).
3 17 CFR 240.19b–4(f)(2).
2 15
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]]>Agencies
[Federal Register Volume 76, Number 3 (Wednesday, January 5, 2011)]
[Notices]
[Pages 594-596]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-33271]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; 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'') has submitted to the
[[Page 595]]
Office of Management and Budget a request for extension of the
previously approved collection of information discussed below.
Regulation ATS provides a regulatory structure for alternative
trading systems. Regulation ATS allows an alternative trading system to
choose between registering as a broker-dealer and complying with
Regulation ATS, or registering as a national securities exchange.
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 apply only to alternative
trading systems with significant volume. Rule 301 describes the
conditions with which an alternative trading system must comply to be
registered as a broker-dealer. 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 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.
An alternative trading system with significant volume is required
to comply with requirements for fair access and systems capacity,
integrity and security. Under Rule 301, such alternative trading system
is also 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 a user of the denial or limitation and
its 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,
and to monitor whether the systems promote fair and orderly securities
markets and operate in a manner that is consistent 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 would 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 80 respondents.
An estimated 80 respondents will file an average total of 552
responses per year, which corresponds to an estimated aggregated annual
response burden of 1,792.5 hours (comprised of 1,356 hours professional
labor and 436.5 hours para-professional labor). At an average cost per
burden hour of approximately $316 for professional labor and $59 for
para-professional labor, with an additional 35% of labor costs added to
account for overhead costs such as printing, copying, and postage, the
resultant total related cost of compliance for these respondents is
$613,236.82 per year ((1,356 professional burden hours multiplied by
$316) plus (436.5 para-professional burden hours multiplied by $59)
equals $454,249.50; plus 35% for overhead costs ($158,987.32) equals
$613,236.82; figures may vary slightly due to arithmetic rounding).
An estimated 5 respondents will commence operations as an ATS each
year, necessitating the filing of an initial operation report on Form
ATS. The Commission estimates that the average compliance burden for
each respondent would be 20 hours, comprising 13 hours of in-house
professional work and 7 hours of clerical work. Thus, the total
compliance burden per year is 100 hours (5 responses x 20 hours = 100
hours). The total cost of compliance for the annual burden is $22,605
($316 x 13 hours per response + $59 x 7 hours per response = $4,521 per
response; $4,521 x 5 responses = $22,605). In addition, estimated
overhead costs for printing, copying, and postage equal to 35% of the
value of labor costs amount to $1,582.35 per respondent ($4,521 times
35%). Thus, the Commission estimates the total annualized cost burden
would be $7,911.75 ($1,582.35 x 5 respondents).
An estimated 80 respondents will file an estimated two periodic
amendments to their initial operation report on Form ATS each year, an
estimated total of 160 responses. The Commission estimates that the
average compliance burden for each response would be 2 hours,
comprising 1.5 hours of in-house professional work and 0.5 hours of
clerical work. Thus, the total compliance burden per year is 320 hours
(160 responses x 2 hours = 320 hours). The total cost of compliance for
the annual burden is $1,007 ($316 x 1.5 hours per response + $59 x 0.5
hours per response = $503.50 per response; $503.50 x 160 responses =
$80,560). In addition, estimated overhead costs for printing, copying,
and postage equal to 35% of the value of labor costs amount to $176.23
per response ($503.50 times 35%). Thus, the Commission estimates the
annualized cost burden for each respondent would be $352.46 ($176.23 x
2 responses per respondent) and the total annualized cost burden for
all respondents would be $28,196.80 ($176.23 x 80 respondents x 2
responses per respondent).
An estimated 80 respondents will file four quarterly reports on
Form ATS-R each year for an estimated total of 320 responses. The
Commission estimates that that the average compliance burden for each
response would be 4 hours, comprising 3 hours of in-house professional
work and 1 hour of clerical work. Thus, the total compliance burden per
year is 1,280 hours (320 responses x 4 hours = 1,280 hours). The total
cost of compliance for the annual burden is $322,240 ($316 x 3 hours
per response + $59 x 1 hours per response = $1,007 per response; $1,007
x 320 responses = $322,240). In addition, estimated overhead costs for
printing, copying, and postage equal to 35% of the value of labor costs
amount to $352.45 per response ($1,007 times 35%). Thus, the Commission
estimates the annualized cost burden for each respondent would be
$1,409.80 ($352.45 x 4 responses per respondent) and the total
annualized cost burden for all respondents would be $112,784 ($352.45 x
80 respondents x 4 responses per respondent).
An estimated three respondents will be required to file a cessation
of operations report on Form ATS each year. The Commission estimates
that the average compliance burden for each response would be 2 hours,
comprising 1.5 hours of in-house professional work and 0.5 hours of
clerical work. Thus, the total compliance burden per year is 6
[[Page 596]]
hours (3 responses x 2 hours = 6 hours). The total cost of compliance
for the annual burden is $1,510.50 ($316 x 1.5 hours per response + $59
x 0.5 hours per response = $503.50 per response; $503.50 x 3 responses
= $1,510.50). In addition, estimated overhead costs for printing,
copying, and postage equal to 35% of the value of labor costs amount to
$176.23 per respondent ($503.5 times 35%). Thus, the Commission
estimates the total annualized cost burden would be $528.69 ($176.23 x
3 respondents).
An estimated two respondents will meet certain volume thresholds
requiring them to establish standards for granting access on its
trading system. The Commission estimates that the average compliance
burden for each response would be 5 hours of in-house professional work
at $316 per hour. Thus, the total compliance burden per year is 10
hours (2 responses x 5 hours = 10 hours). The total cost of compliance
for the annual burden is $3,160 ($316 x 5 hours per response x 2
responses = $3,160). In addition, estimated overhead costs for
printing, copying, and postage equal to 35% of the value of labor costs
amount to $553 per response ($1,580 times 35%). Thus, the Commission
estimates the total annualized cost burden would be $1,106 ($553 x 2
respondents).
An estimated two respondents will meet certain volume thresholds
requiring them to provide notice to any user upon any decision to deny
or limit that user's access to the system, and these notice obligations
will be triggered an estimated 27 times per year for each respondent.
The Commission estimates that the average compliance burden for each
response would be 1 hour of in-house professional work at $316 per
hour. Thus, the total compliance burden per year is 54 hours (2
respondents x 27 responses each x 1 hour = 54 hours). The total cost of
compliance for the annual burden is $17,064 ($316 x 1 hour per response
x 54 responses = $17,064). In addition, estimated overhead costs for
printing, copying, and postage equal to 35% of the value of labor costs
amount to $110.60 per response ($316 times 35%). Thus, the Commission
estimates the annualized cost burden for each respondent would be
$2,986.20 ($110.60 x 27 responses per respondent) and the total
annualized cost burden for all respondents would be $5,972.40 ($110.60
x 2 respondents x 27 responses per respondent).
An estimated two respondents will meet certain volume thresholds
requiring them to keep records relating to any steps taken to comply
with systems capacity, integrity, and security requirements under Rule
301. The Commission estimates that the average compliance burden for
each response would be 10 hours of in-house professional work at $316
per hour. Thus, the total compliance burden per year is 20 hours (2
respondents x 10 hours = 20 hours). The total cost of compliance for
the annual burden is $6,320 ($316 x 20 hours = $6,320). In addition,
estimated overhead costs for printing, copying, and postage equal to
35% of the value of labor costs amount to $1,106 per response ($3,160
times 35%). Thus, the Commission estimates the total annualized cost
burden would be $2,212 ($1,106 x 2 respondents).
An estimated two respondents will meet certain volume thresholds
requiring them to provide a notice to the Commission to report any
systems outages, and these notice obligations will be triggered an
estimated 5 times per year for each respondent. The Commission
estimates that the average compliance burden for each response would be
.25 hours of in-house professional work at $316 per hour. Thus, the
total compliance burden per year is 2.5 hours (2 respondents x 5
responses each x .25 hours = 2.5 hours). The total cost of compliance
for the annual burden is $790 ($316 x .25 hours per response x 10
responses = $790). In addition, estimated overhead costs for printing,
copying, and postage equal to 35% of the value of labor costs amount to
$27.65 per response ($79 times 35%). Thus, the Commission estimates the
annualized cost burden for each respondent would be $138.25 ($27.65 x 5
responses per respondent) and the total annualized cost burden for all
respondents would be $276.50 ($27.65 x 2 respondents x 5 responses per
respondent).
Compliance with Rule 301 is mandatory. The information required by
the Rule 301 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 (``FOIA''),
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.
The public may view the background documentation for this
information collection at the following Web site, https://www.reginfo.gov. 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: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 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: December 30, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-33271 Filed 1-4-11; 8:45 am]
BILLING CODE 8011-01-P
