136 Federal Register / Vol. 87, No. 1 / Monday, January 3, 2022 / Notices 

who is expected to actually purchase 

the security in the offering) at least 48 

hours prior to the sending of such 

confirmation. This requirement is 

sometimes referred to as the ‘‘48 hour 

rule.’’ 

Additionally, managing underwriters 

are required to take reasonable steps to 

ensure that all broker-dealers 

participating in the distribution of or 

trading in the security have sufficient 

copies of the preliminary or final 

prospectus, as requested by them, to 

enable such broker-dealer to satisfy their 

respective prospectus delivery 

obligations pursuant to Rule 15c2–8, as 

well as Section 5 of the Securities Act 

of 1933. 

Rule 15c2–8 implicitly requires that 

broker-dealers collect information, as 

such collection facilitates compliance 

with the rule. There is no requirement 

to submit collected information to the 

Commission. In order to comply with 

the rule, broker-dealers participating in 

a securities offering must keep accurate 

records of persons who have indicated 

interest in an IPO or requested a 

prospectus, so that they know to whom 

they must send a prospectus. 

The Commission estimates that the 

time broker-dealers will spend 

complying with the collection of 

information required by the rule is 

24,200 hours for equity IPOs and 29,320 

hours for other offerings. The 

Commission estimates that the total 

annualized cost burden (copying and 

postage costs) is $48,400,000 for IPOs 

and $1,172,800 for other offerings. 

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 website: 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to (i) MBX.OMB.OIRA.SEC_desk_

officer@omb.eop.gov and (ii) David 

Bottom, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o John R. Pezzullo, 100 

F Street NE, Washington, DC 20549, or 

by sending an email to: PRA_Mailbox@

sec.gov. 

Dated: December 28, 2021. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–28428 Filed 12–30–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. S7–23–15, OMB Control No. 

3235–0763] 

Submission for OMB Review; 

Comment Request; Extension: Rule 

304 of Regulation ATS and Form ATS 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (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 304 of Regulation ATS (17 CFR 

242.304) and Form ATS–N under the 

Securities Exchange Act of 1934 (15 

U.S.C. 78a et seq.) (‘‘Exchange Act’’). 

Regulation ATS provides a regulatory 

structure for alternative trading systems. 

Rule 304 of Regulation ATS provides 

conditions for NMS Stock ATSs seeking 

to rely on the exemption from the 

definition of ‘‘exchange’’ provided by 

Rule 3a1–1(a) of the Exchange Act, 

including to file a Form ATS–N, and for 

that Form ATS–N to become effective. 

Form ATS–N requires NMS Stock ATSs 

to provide information about their 

manner of operations, the broker-dealer 

operator, and the ATS-related activities 

of the broker-dealer operator and its 

affiliates to comply with the conditions 

provided under Rule 304. Form ATS–N 

promotes more efficient and effective 

market operations by providing more 

transparency to market participants 

about the operations of NMS Stock 

ATSs and the potential conflicts of 

interest of the controlling broker-dealer 

operator and its affiliates, and helps 

brokers meet their best execution 

obligations to their customers. 

Operational transparency rules, 

including Form ATS–N, are designed to 

increase competition among trading 

centers in regard to order routing and 

execution quality. 

The Commission staff estimates that 

entities subject to the requirements of 

Rule 304 and Form ATS–N will spend 

a total of approximately 2,042 hours a 

year to comply with the Rule. 

Regulation ATS requires ATSs to 

preserve any records, for at least three 

years, made in the process of complying 

with the systems capacity, integrity and 

security requirements. 

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 website: 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to (i) www.reginfo.gov/public/do/ 

PRAMain and (ii) David Bottom, 

Director/Chief Information Officer, 

Securities and Exchange Commission, 

c/o John R. Pezzullo, 100 F Street NE, 

Washington, DC 20549, or by sending an 

email to: PRA_Mailbox@sec.gov. 

Dated: December 28, 2021. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–28434 Filed 12–30–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–289, OMB Control No. 

3235–0327] 

Submission for OMB Review Comment 

Request; Extension: Form SE 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

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 this 

request for extension of the previously 

approved collection of information 

discussed below. 

Form SE (17 CFR 239.64) is used by 

registrants to file paper copies of 

exhibits, reports or other documents 

that would be difficult or impossible to 

submit electronically, as provided in 

Rule 311 of Regulation S–T (17 CFR 

232.311). The information contained in 

Form SE is used by the Commission to 

identify paper copies of exhibits. Form 


khammond on DSKJM1Z7X2PROD with NOTICES