[Federal Register Volume 78, Number 224 (Wednesday, November 20, 2013)]
[Notices]
[Pages 69713-69714]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-27762]
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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:
Rules 201 and 200(g) of Regulation SHO; SEC File No. 270-606,
OMB Control No. 3235-0670.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget (``OMB'') a request for approval of extension of the
previously approved collection of information provided for in Rule 201
(17 CFR 242.201) and Rule 200(g) (17 CFR 242.200(g)) under the
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
Rule 201 is a short sale-related circuit breaker rule that, if
triggered, imposes a restriction on the prices at which securities may
be sold short. Rule 200(g) provides that a broker-dealer may mark
certain qualifying sell orders ``short exempt.'' The information
collected under Rule 201's written policies and procedure requirement
applicable to trading centers, the written policies and procedures
requirement of the broker-dealer provision of Rule 201(c), the written
policies and procedures requirement of the riskless principal provision
of Rule 201(d)(6), and the ``short exempt'' marking requirement of Rule
200(g) enable the Commission and SROs to examine and monitor for
compliance with the requirements of Rule 201 and Rule 200(g).
In addition, the information collected under Rule 201's written
policies and procedure requirement applicable to trading centers help
ensure that trading centers do not execute or display any impermissibly
priced short sale orders, unless an order is marked ``short exempt,''
in accordance with the Rule's requirements. Similarly, the information
collected under the written policies and procedures requirement of the
broker-dealer provision of Rule 201(c) and the riskless principal
provision of Rule 201(d)(6) help to ensure that broker-dealers comply
with the requirements of these provisions. The information collected
pursuant to the new ``short exempt'' marking requirement of Rule 200(g)
also provide an indication to a trading center when it must execute or
display a short sale order without regard to whether the short sale
order is at a price that is less than or equal to the current national
best bid.
It is estimated that SRO and non-SRO respondents registered with
the Commission and subject to the collection of information
requirements of Rules 201 and 200(g) incur an aggregate annual burden
of 2,029,276 hours to comply with the Rules and an aggregate annual
external cost of $65,928,700.
Any records generated in connection with Rule 201's requirements
that trading centers and broker-dealers (with respect to the broker-
dealer and riskless principal provisions) establish written policies
and procedures must be preserved in accordance with, and for the
periods specified in, Exchange Act Rules 17a-1 for SRO trading centers
and 17a-4(e)(7) for non-SRO trading centers and registered broker-
dealers. The amendments to Rule 200(g) and Rule 200(g)(2) do not
contain any new record retention requirements. All registered broker-
dealers that are subject to the amendments are currently required to
retain records in accordance with Rule 17a-4(e)(7) under the Exchange
Act.
Compliance with Rule 201 and Rule 200(g) is mandatory. We expect
that the information collected pursuant to Rule 201's required policies
and procedures for trading centers will be communicated to the members,
subscribers, and employees (as applicable) of all trading centers. In
addition, the information collected pursuant to Rule 201's required
policies and procedures for trading centers will be retained by the
trading centers and will be available to the Commission and SRO
examiners upon request, but not subject to public availability. The
information collected pursuant to Rule 201's broker-dealer provision
and the riskless principal exception will be retained by the broker-
dealers and will be available to the Commission and SRO examiners upon
request, but not subject to public availability. The information
collected pursuant to the ``short exempt'' marking requirements in Rule
200(g) and Rule 200(g)(2) will be submitted to trading centers and will
be available to the Commission and SRO examiners upon request. The
[[Page 69714]]
information collected pursuant to the ``short exempt'' marking
requirement may be publicly available because it may be published, in a
form that would not identify individual broker-dealers, by SROs that
publish on their Internet Web sites aggregate short selling volume data
in each individual equity security for that day and, on a one-month
delayed basis, information regarding individual short sale transactions
in all exchange-listed equity securities.
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 OMB control number.
The public may view background documentation for this information
collection at the following Web site, 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: [email protected]; and (ii) Thomas Bayer, Director/Chief Information
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100
F Street NE., Washington, DC 20549 or send an email to: [email protected]. Comments must be submitted to OMB within 30 days of
this notice.
Dated: November 14, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-27762 Filed 11-19-13; 8:45 am]
BILLING CODE 8011-01-P