[Federal Register Volume 83, Number 139 (Thursday, July 19, 2018)]
[Notices]
[Page 34165]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15376]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; 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'') 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
11a1-1(T) (17 CFR 240.11a1-1(T)), under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.) (``Exchange Act'').
On January 27, 1976, the Commission adopted Rule 11a1-1(T) to
exempt certain exempt 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
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 for of $5,712 (17 hours @$336).
Compliance with Rule 11a-1(T) is necessary for exchange members to
make transactions for their own accounts under a specific exemption
from the general prohibition of such transactions under Section 11(a)
of the Exchange Act. Compliance with Rule 11a-1(T) does not involve the
collection of confidential information. Rule 11a-1(T) does not have a
record retention requirement per se. However, responses made pursuant
to Rule 11a-1(T) may be subject to the recordkeeping requirements of
Rules 17a-3 and 17a-4.
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 control number.
The public may view background documentation for this information
collection at the following website: 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 Candace
Kenner, 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: July 13, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-15376 Filed 7-18-18; 8:45 am]
BILLING CODE 8011-01-P