[Federal Register Volume 66, Number 119 (Wednesday, June 20, 2001)]
[Notices]
[Pages 33113-33114]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-15528]


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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 Filings and Information Services, Washington, DC 
20549.

Extension: Form 1,
    Rules 6a-1 and 6a-2; SEC File No. 270-18; OMB Control No. 3235-
0017.
    Rules 6a-3; SEC File No. 270-15; OMB Control No. 3235-0021.

    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 
requests for extension of the previously approved collections of 
information discussed below.
    The Securities Exchange Act of 1934 (``Act'') sets forth a 
regulatory scheme for national securities exchanges. Rule 6a-1 under 
the Act \1\ generally requires an applicant for initial registration as 
a national securities exchange to file an application with the 
Commission on Form 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 under the Act \2\ 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

[[Page 33114]]

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.
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    \1\ 17 CFR 240.6a-1.
    \2\ 17 CFR 240.6a-2.
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    The respondents to the collection of information are entities that 
seek registration as a national securities exchange or that seek 
exemption from registration based on limited trading volume. After the 
initial filing of Form 1, both registered and exempt exchanges are 
subject to ongoing informational requirements.
    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 $4,517. 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 $13,551 (one response/
respondent  x  three respondents  x  $4,517/response).
    There currently are nine entities registered as nationals 
securities exchanges and two exempt exchanges. The Commission estimates 
that each registered or exempt exchange file one amendment 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 275 hours (11 respondents  x  25 hours/
response  x  one response/respondent per year) and $25,630 (11 
respondents  x  $2,330/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 under the Act,\3\ a national 
securities exchange generally is required to retain records of the 
collection of information for at least five years.
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    \3\ 17 CFR 240.17a-1.
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    Section 6 of the Act \4\ sets out a framework for the registration 
and regulation of national securities exchanges. Under Commission Rule 
6a-3,\5\ one of the rules that implements section 6, a national 
securities exchange (or an exchange exempted from registration based on 
limited trading volume) must provide certain supplemental information 
to the Commission, including any material (including notices, 
circulars, bulletins, lists, and periodicals) issued or made generally 
available to members of, or participants or subscribers to, the 
exchange. Rule 6a-3 also requires the exchanges to file monthly reports 
that set forth the volume and aggregate dollar amount of securities 
sold on the exchange each month. The information required to be filed 
with the Commission pursuant to Rule 6a-3 is designed to enable the 
Commission to carry out its statutorily mandated oversight functions 
and to ensure that registered and exempt exchanges continue to be in 
compliance with the Act.
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    \4\ 15 U.S.C. 78f.
    \5\ 17 CFR 240.6a-3.
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    The respondents to the collection of information are national 
securities exchanges and exchanges that are exempt from registration 
based on limited trading volume.
    The Commission estimates that each respondent make approximately 25 
such filings on an annual basis at an average cost of approximately $21 
per response. Currently, 11 respondents (nine national securities 
exchanges and two exempt exchanges) are subject to the collection of 
information requirements of Rule 6a-3. The Commission estimates that 
the total burden for all respondents is 137.5 hours (25 filings/
respondent per year  x  0.5 hours/filing  x  11 respondents) and $5,775 
($21/response  x  25 responses/respondent per year  x  11 respondents) 
per year.
    Compliance with Rule 6a-3 is mandatory for registered and exempt 
exchanges. Information received in response to Rule 6a-3 shall not be 
kept confidential; the information collected is public information. As 
set forth in Rule 17a-1 under the Act,\6\ a national securities 
exchange is required to retain records of the collection of information 
for at least five years.
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    \6\ 17 CFR 240.17a-1.
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    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.
    Written comments regarding the above information should be directed 
to the following persons: (a) Dest 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; and (b) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549. 
Comments must be submitted to the Office of Management and budget 
within 30 days of this notice.

    Dated: June 12, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-15528 Filed 6-19-01; 8:45 am]
BILLING CODE 8010-01-M