[Federal Register Volume 76, Number 103 (Friday, May 27, 2011)]
[Notices]
[Page 30984]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-13117]
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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 609 and Form SIP; OMB Control No. 3235-0043; SEC File No. 270-
23.
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 (``OMB'') a request for approval of extension of the
existing collection of information provided for the following rule:
Rule 609 (17 CFR 249.609) (formerly Rule 11Ab2-1) and Form SIP (17 CFR
249.1001).
On September 23, 1975, the Commission adopted Rule 11Ab2-1,\1\
which under Regulation NMS has been redesignated as Rule 609 and Form
SIP under the Securities Exchange Act of 1934 (``Act'') (15 U.S.C. 78a
et seq.) to establish the procedures by which a Securities Information
Processor (``SIP'') files and amends its SIP registration statement.\2\
The information filed with the Commission pursuant to Rule 609 and Form
SIP is designed to provide the Commission with the information
necessary to make the required findings under the Act before granting
the SIP's application for registration. In addition, the requirement
that a SIP file an amendment to correct any inaccurate information is
designed to assure that the Commission has current, accurate
information with respect to the SIP. This information is also made
available to members of the public.
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\1\ See Securities Exchange Act Release No. 11673 (September 23,
1975), 40 FR 45422 (October 2, 1975).
\2\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496 (June 29, 2005).
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Only exclusive SIPs are required to register with the Commission.
An exclusive SIP is a SIP that engages on an exclusive basis on behalf
of any national securities exchange or registered securities
association, or any national securities exchange or registered
securities association which engages on an exclusive basis on its own
behalf, in collecting, processing, or preparing for distribution or
publication, any information with respect to (i) Transactions or
quotations on, or effected or made by means of, any facility of such
exchange, or (ii) quotations distributed or published by means of any
electronic quotation system operated by such association. The Federal
securities laws require that before the Commission may approve the
registration of an exclusive SIP, it must make certain findings. It
takes a SIP applicant approximately 400 hours to prepare documents
which include sufficient information to enable the Commission to make
those findings. Currently, there are only two exclusive SIPs registered
with the Commission; The Securities Industry Automation Corporation
(``SIAC'') and The Nasdaq Stock Market, Inc. (``Nasdaq''). SIAC and
Nasdaq are required to keep the information on file with the Commission
current, which entails filing a form SIP annually to update
information. Accordingly, the annual reporting and recordkeeping burden
for Rule 609 and Form SIP is 400 hours; the burden of information
collection is estimated to involve approximately 1 respondent
application for registration making 1 response per year. This annual
reporting and recordkeeping burden does not include the burden hours or
cost of amending a Form SIP because the Commission has already
overstated the compliance burdens by assuming that the Commission will
receive one initial registration pursuant to Rule 609 on Form SIP a
year.
Rule 609 and Form SIP do not impose a retention period for any
recordkeeping requirements. Completing and filing Form SIP is mandatory
before an entity may become an exclusive SIP. Except in cases where
confidential treatment is requested by an applicant and granted by the
Commission pursuant to the Freedom of Information Act and the rules of
the Commission thereunder, information provided in the Form SIP will be
routinely available for public inspection. Please note that 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.
Background documentation for this information collection may be
viewed at the following link, http://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, Director/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 within 30 days of this
notice.
May 22, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-13117 Filed 5-26-11; 8:45 am]
BILLING CODE 8011-01-P