[Federal Register Volume 78, Number 95 (Thursday, May 16, 2013)]
[Notices]
[Pages 28899-28900]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-11621]
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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
20549-0213.
Extension:
Rule 302; SEC File No. 270-453, OMB Control No. 3235-0510.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (``PRA'') (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 302 (17 CFR
242.302) of Regulation ATS (17 CFR 242.300 et seq.) under the
Securities and Exchange Act of 1934 (``Act'') (15 U.S.C. 78a et seq.).
The Commission plans to submit this existing collection of information
to the Office of Management and Budget (``OMB'') 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 302 of Regulation ATS (17
CFR 242.302) describes the recordkeeping requirements for ATSs. Under
Rule 302, ATSs are required to make a record of subscribers to the ATS,
daily summaries of trading in the ATS, and time-sequenced records of
order information in the ATS.
The information required to be collected under Rule 302 should
increase the abilities of the Commission, state securities regulatory
authorities,
[[Page 28900]]
and the self-regulatory organizations to ensure that ATSs are in
compliance with Regulation ATS as well as other applicable rules and
regulations. If the information is not collected or collected less
frequently, the 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 92 respondents. These respondents will spend approximately
11,960 hours per year (92 respondents at 130 burden hours/respondent)
to comply with the recordkeeping requirements of Rule 302. At an
average cost per burden hour of $63, the resultant total related cost
of compliance for these respondents is $753,480 per year (11,960 burden
hours multiplied by $63/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.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
Please direct your written comments to: 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: [email protected].
Dated: May 10, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-11621 Filed 5-15-13; 8:45 am]
BILLING CODE 8011-01-P