[Federal Register Volume 86, Number 109 (Wednesday, June 9, 2021)]
[Notices]
[Page 30643]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-12102]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-428, OMB Control No. 3235-0478]


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Rule 11a1-1(T)

    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 
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 538 respondents that require an aggregate 
total of approximately 15 hours to comply with this Rule. Each of these 
approximately 538 respondents makes an estimated 20 annual responses, 
for an aggregate of 10,760 responses per year. Each response takes 
approximately 5 seconds to complete. Thus, the total compliance burden 
per year is approximately 15 hours (10,760 x 5 seconds/60 seconds per 
minute/60 minutes per hour = 15 hours). The approximate internal cost 
of compliance per hour is $355, resulting in a total internal cost of 
compliance of approximately $5,325 per year (15 hours @$355).
    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 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 Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by 
sending an email to: <a href="/cdn-cgi/l/email-protection#c19193809e8ca0a8ada3aeb981b2a4a2efa6aeb7"><span class="__cf_email__" data-cfemail="37676576687a565e5b55584f7744525419505841">[email protected]</span></a>.

    Dated: June 4, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-12102 Filed 6-8-21; 8:45 am]
BILLING CODE 8011-01-P


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