[Federal Register Volume 83, Number 81 (Thursday, April 26, 2018)]
[Notices]
[Pages 18385-18386]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-08815]
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SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available From: U.S. 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 (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
[[Page 18386]]
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
principle purpose of their exchange memberships, the conduct of a
public securities business.
There are approximately 592 respondents that require an aggregate
total of 17 hours to comply with this rule. Each of these approximately
592 respondents makes an estimated 20 annual responses, for an
aggregate of 11,840 responses per year. Each response takes
approximately 5 seconds to complete. Thus, the total compliance burden
per year is 17 hours (11,840 x 5 seconds/60 seconds per minute/60
minutes per hour = 17 hours). The approximate internal cost of
compliance per hour is $336, resulting in a total internal cost of
compliance of $5,712 (17 hours @ $336).
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, 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: April 23, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-08815 Filed 4-25-18; 8:45 am]
BILLING CODE 8011-01-P