[Federal Register Volume 75, Number 110 (Wednesday, June 9, 2010)]
[Notices]
[Pages 32824-32825]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-13833]
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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:
Form 1, Rules 6a-1 and 6a-2; 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.) the Securities and Exchange Commission
(``Commission'') has submitted to the Office of Management and Budget a
request for extension of the previously approved collection of
information discussed below.
The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq. (the
``Act'') sets forth a regulatory scheme for national securities
exchanges. Rule 6a-1 (17 CFR 240.6a-1) under the Act generally requires
an applicant for initial registration as a national securities exchange
to file an application with the Commission on Form 1 (17 CFR 249.1). 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
(17 CFR 240.6a-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 met the criteria for registration or
exemption set forth in Sections 6 and 19 of the Act. Without the
amendments and periodic updates of information submitted pursuant to
Rule 6a-2, the Commission would have
[[Page 32825]]
substantial difficulty determining whether a national securities
exchange or exempt exchange was continuing to operate in compliance
with the Act.
Initial filings on Form 1 by new exchanges are made on a one-time
basis. The Commission estimates that it will receive approximately
three initial Form 1 filings per year and that each respondent would
incur an average burden of 47 hours to file an initial Form 1 at an
average cost per response of approximately $10,354. Therefore, the
Commission estimates that the annual burden for all respondents to file
the initial Form 1 would be 141 hours (one response/respondent x three
respondents x 47 hours/response) and $31,062 (one response/respondent x
three respondents x $10,354/response).
There currently are thirteen entities registered as national
securities exchanges and two exempt exchanges, for a total of 15
exchanges. The Commission estimates that each registered or exempt
exchange files four amendments or periodic updates to Form 1 per year,
incurring an average burden of 25 hours to comply with Rule 6a-2. 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
1500 hours (15 respondents x 25 hours/response x four response/
respondent per year) and $317,700 (15 respondents x $5,295/response x
one response/respondent per year).
Compliance with Rules 6a-1 and 6a-2 and Form 1 is mandatory for
entities seeking to register as a national securities exchange or
seeking an exemption from registration based on limited trading volume.
Information received in response to Rules 6a-1 and 6a-2 and Form 1
shall not be kept confidential; the information collected is public
information. As set forth in Rule 17a-1 (17 CFR 240.17a-1) under the
Act, a national securities exchange generally is required to retain
records of the collection of information for at least five years.
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 control number.
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 e-mail to: [email protected]; and (ii) Charles Boucher, Director/Chief Information
Officer, Securities and Exchange Commission, c/o Shirley Martinson,
6432 General Green Way, Alexandria, VA 22312 or send an e-mail to:
[email protected]. Comments must be submitted to the Office of
Management and Budget within 30 days of this notice.
Dated: June 2, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-13833 Filed 6-8-10; 8:45 am]
BILLING CODE 8010-01-P