[Federal Register Volume 75, Number 62 (Thursday, April 1, 2010)]
[Notices]
[Pages 16528-16529]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-7360]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; 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'') is soliciting comments on the existing collection of
information summarized below. The Commission plans to submit this
existing collection of information to the Office of Management and
Budget for extension and approval.
The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.)
(``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 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
[[Page 16529]]
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 update 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).
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimate of the burden of the proposed collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be 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.
Please direct your written comments to: Charles Boucher, Director/
Chief Information Officer, Securities and Exchange Commission, c/o
Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312
or send an e-mail to: [email protected].
Dated: March 25, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-7360 Filed 3-31-10; 8:45 am]
BILLING CODE 8011-01-P