[Federal Register Volume 81, Number 29 (Friday, February 12, 2016)]
[Notices]
[Pages 7596-7597]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-02833]
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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 FOIA Services, 100 F Street NE., Washington, DC
20549-2736.
Extension:
Rules 6a-1 and 6a-2, Form 1. SEC File No. 270-0017, OMB Control
No. 3235-0017.
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 6a-1
(17 CFR 240.6a-1), Rule 6a-2 (17 CFR 240.6a-2), and Form 1 (17 CFR
249.1) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.) (``Exchange Act'' or Act'').
The Exchange Act sets forth a regulatory scheme for national
securities exchanges. Rule 6a-1 under the Act generally requires an
applicant for initial registration as a national securities exchange to
file an application with the Commission on
[[Page 7597]]
Form 1. An exchange that seeks an exemption from registration based on
limited trading volume also must apply for such exemption on Form 1.
Rule 6a-2 under the Act requires registered and exempt exchanges: (1)
To amend the Form 1 if there are any material changes to the
information provided in the initial Form 1; and (2) to submit periodic
updates of certain information provided in the initial Form 1, whether
such information has changed or not. The information required pursuant
to Rules 6a-1 and 6a-2 is necessary to enable the Commission to
maintain accurate files regarding the exchange and to exercise its
statutory oversight functions. Without the information submitted
pursuant to Rule 6a-1 on Form 1, the Commission would not be able to
determine whether the respondent has met the criteria for registration
(or an exemption from registration) set forth in Section 6 of the
Exchange Act. The amendments and periodic updates of information
submitted pursuant to Rule 6a-2 are necessary to assist the Commission
in determining whether a national securities exchange or exempt
exchange is continuing to operate in compliance with the Exchange Act.
Initial filings on Form 1 by new exchanges are made on a one-time
basis. The Commission estimates that it will receive approximately one
initial Form 1 filing per year and that each respondent would incur an
average burden of 880 hours to file an initial Form 1 at an average
internal labor cost per response of approximately $302,694. Therefore,
the Commission estimates that the annual burden for all respondents to
file the initial Form 1 would be 880 hours (one response/respondent x
one respondents x 880 hours/response) and an internal compliance cost
of $302,694 (one response/respondent x one respondents x $302,694/
response).
There currently are 18 entities registered as national securities
exchanges. The Commission estimates that each registered or exempt
exchange files nine amendments or periodic updates to Form 1 per year,
incurring an average burden of 25 hours to comply with Rule 6a-2. The
SEC estimates that the average internal labor cost for a national
securities exchange per response would be approximately $9,445. The
Commission estimates that the annual burden for all respondents to file
amendments and periodic updates to the Form 1 pursuant to Rule 6a-2 is
4,050 hours (18 respondents x 25 hours/response x nine responses/
respondent per year) and an internal compliance cost of $1,530,090 (18
respondents x $9,445/response x nine responses/respondent per year).
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.
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) Pamela Dyson, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an
email to: [email protected]. Comments must be submitted to OMB within
30 days of this notice.
Dated: February 8, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-02833 Filed 2-11-16; 8:45 am]
BILLING CODE 8011-01-P