[Federal Register Volume 80, Number 8 (Tuesday, January 13, 2015)]
[Notices]
[Page 1680]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-00293]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC
20549-2736.
Extension: Rule 11a1-1(T) SEC File No. 270-428, OMB Control No.
3235-0478.
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 collection of
information provided for in Rule 11a1-1(T) (17 CFR 240.11a1-1(T)),
under the Securities Exchange Act of 1934 (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.
On January 27, 1976, the Commission adopted Rule 11a1-1(T)--
Transactions Yielding Priority, Parity, and Precedence (17 CFR
240.11a1-1(T)) under the Securities Exchange Act of 1934 (15 U.S.C. 78a
et seq.) (``Exchange Act''), to exempt certain transactions of exchange
members for their own accounts that would otherwise be prohibited under
Section 11(a) of the Exchange Act. The rule provides that a member's
proprietary order may be executed on the exchange of which the trader
is a member, if, among other things: (1) The member discloses that a
bid or offer for its account is for its account to any member with whom
such bid or offer is placed or to whom it is communicated; (2) any such
member through whom that bid or offer is communicated discloses to
others participating in effecting the order that it is for the account
of a member; and (3) immediately before executing the order, a member
(other than a specialist in such security) presenting any order for the
account of a member on the exchange clearly announces or otherwise
indicates to the specialist and to other members then present that he
is presenting an order for the account of a member.
Without these requirements, it would not be possible for the
Commission to monitor its mandate under the Exchange Act to promote
fair and orderly markets and ensure that exchange members have, as the
principal purpose of their exchange memberships, the conduct of a
public securities business.
There are approximately 663 respondents that require an aggregate
total of 19 hours to comply with this rule. Each of these approximately
663 respondents makes an estimated 20 annual responses, for an
aggregate of 13,260 responses per year. Each response takes
approximately 5 seconds to complete. Thus, the total compliance burden
per year is 19 hours (13,260 x 5 seconds/60 seconds per minute/60
minutes per hour = 19 hours). The approximate cost per hour is $323,
resulting in a total cost of compliance for the annual burden of $6,137
(19 hours @$323).
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information will
have practical utility; (b) the accuracy of the agency's estimate of
the burden of the 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: Pamela Dyson, Acting
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].
Dated: January 7, 2015.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2015-00293 Filed 1-12-15; 8:45 am]
BILLING CODE 8011-01-P