Submission for OMB Review; Comment Request, 4063 [2012-1617]

Agencies

• SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 77, Number 17 (Thursday, January 26, 2012)]
[Notices]
[Page 4063]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-1617]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

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

Extension:
    Rule 12d2-1, OMB Control No. 3235-0081, SEC File No. 270-98.

    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 requests for extension of the previously approved 
collections of information for the following rule: Rule 12d2-1 (17 CFR 
240.12d2-1).
    On February 12, 1935, the Commission adopted Rule 12d2-1,\1\ under 
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Act''), 
which sets forth the conditions and procedures under which a security 
may be suspended from trading under Section 12(d) of the Act.\2\ Rule 
12d2-1 provides the procedures by which a national securities exchange 
may suspend from trading a security that is listed and registered on 
the exchange. Under Rule 12d2-1, an exchange is permitted to suspend 
from trading a listed security in accordance with its rules, and must 
promptly notify the Commission of any such suspension, along with the 
effective date and the reasons for the suspension.
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    \1\ See Securities Exchange Act Release No. 98 (February 12, 
1935).
    \2\ See Securities Exchange Act Release No. 7011 (February 5, 
1963), 28 FR 1506 (February 16, 1963).
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    Any such suspension may be continued until such time as the 
Commission may determine that the suspension is designed to evade the 
provisions of Section 12(d) of the Act and Rule 12d2-2 thereunder.\3\ 
During the continuance of such suspension under Rule 12d2-1, the 
exchange is required to notify the Commission promptly of any change in 
the reasons for the suspension. Upon the restoration to trading of any 
security suspended under Rule 12d2-1, the exchange must notify the 
Commission promptly of the effective date of such restoration.
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    \3\ Rule 12d2-2 prescribes the circumstances under which a 
security may be delisted from an exchange and withdrawn from 
registration under Section 12(b) of the Act, and provides the 
procedures for taking such action.
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    The trading suspension notices serve a number of purposes. First, 
they inform the Commission that an exchange has suspended from trading 
a listed security or reintroduced trading in a previously suspended 
security. They also provide the Commission with information necessary 
for it to determine that the suspension has been accomplished in 
accordance with the rules of the exchange, and to verify that the 
exchange has not evaded the requirements of Section 12(d) of the Act 
and Rule 12d2-2 thereunder by improperly employing a trading 
suspension. Without Rule 12d2-1, the Commission would be unable to 
fully implement these statutory responsibilities.
    There are 15 national securities exchanges that are subject to Rule 
12d2-1. The burden of complying with Rule 12d2-1 is not evenly 
distributed among the exchanges, however, since there are many more 
securities listed on the New York Stock Exchange, Inc., the NASDAQ 
Stock Exchange, and the American Stock Exchange LLC than on the other 
exchanges.\4\ However, for purposes of this filing, the Commission 
staff has assumed that the number of responses is evenly divided among 
the exchanges. There are approximately 1,500 responses under Rule 12d2-
1 for the purpose of suspension of trading from the national securities 
exchanges each year, and the resultant aggregate annual reporting hour 
burden would be, assuming on average one-half reporting hour per 
response, 750 annual burden hours for all exchanges. The related costs 
associated with these burden hours are $145,125.
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    \4\ In fact, some exchanges do not file any trading suspension 
reports in a given year.
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    The collection of information obligations imposed by Rule 12d2-1 
are mandatory. The response will be available to the public and will 
not be kept confidential.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid Office of Management and Budget (OMB) control number.
    Background documentation for this information collection may be 
viewed at the following link: 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 email to: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this 
notice.

    Dated: January 20, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-1617 Filed 1-25-12; 8:45 am]
BILLING CODE 8011-01-P