Federal Register / Vol. 75, No. 175 / Friday, September 10, 2010 / Notices 55371 

would be filed with the Commission as 

proposed rule changes pursuant to 

Section 19(b) of the Act, and would be 

published in the Federal Register. 

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: 

Shagufta_Ahmed@omb.eop.gov; and (ii) 

Charles Boucher, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, 

Alexandria, VA 22312 or send an e-mail 

to: PRA_Mailbox@sec.gov. Comments 

must be submitted within 30 days of 

this notice. 

Dated: September 7, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–22602 Filed 9–9–10; 8:45 am] 

BILLING CODE 8010–01–P 

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: 

Rule 303; SEC File No. 270–450; OMB 

Control No. 3235–0505. 

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 approval of extension of the 

previously approved collection of 

information provided for in Rule 303 

(17 CFR 242.303) of Regulation ATS (17 

CFR 242.300 et seq.) under the 

Securities and Exchange Act of 1934 (15 

U.S.C. 78a et seq.). 

Regulation ATS sets forth a regulatory 

regime for ‘‘alternative trading systems’’ 

(‘‘ATSs’’), which are entities that carry 

out exchange functions but which are 

not required to register as national 

securities exchanges under the Act. In 

lieu of exchange registration, an ATS 

can instead opt to register with the 

Commission as a broker-dealer and, as 

a condition to not having to register as 

an exchange, must instead comply with 

Regulation ATS. Rule 303 of Regulation 

ATS (17 CFR 242.303) describes the 

record preservation requirements for 

ATSs. Rule 303 also describes how such 

records must be maintained, what 

entities may perform this function, and 

how long records must be preserved. 

Under Rule 303, ATSs are required to 

preserve all records made pursuant to 

Rule 302, which includes information 

relating to subscribers, trading 

summaries, and time-sequenced order 

information. Rule 303 also requires 

ATSs to preserve any notices provided 

to subscribers, including, but not 

limited to, notices regarding the ATSs 

operations and subscriber access. For an 

ATS subject to the fair access 

requirements described in Rule 

301(b)(5)(ii) of Regulation ATS, Rule 

303 further requires the ATS to preserve 

at least one copy of its standards for 

access to trading, all documents relevant 

to the ATS’s decision to grant, deny, or 

limit access to any person, and all other 

documents made or received by the ATS 

in the course of complying with Rule 

301(b)(5) of Regulation ATS. For an ATS 

subject to the capacity, integrity, and 

security requirements for automated 

systems under Rule 301(b)(6) of 

Regulation ATS, Rule 303 requires an 

ATS to preserve all documents made or 

received by the ATS related to its 

compliance, including all 

correspondence, memoranda, papers, 

books, notices, accounts, reports, test 

scripts, test results and other similar 

records. As provided in Rule 303(a)(1), 

ATSs are required to keep all of these 

records, as applicable, for a period of at 

least three years, the first two in an 

easily accessible place. In addition, Rule 

303 requires ATSs to preserve records of 

partnership articles, articles of 

incorporation or charter, minute books, 

stock certificate books, copies of reports 

filed pursuant to Rule 301(b)(2), and 

records made pursuant to Rule 301(b)(5) 

for the life of the ATS. 

The information contained in the 

records required to be preserved by Rule 

303 will be used by examiners and other 

representatives of the Commission, state 

securities regulatory authorities, and the 

self-regulatory organizations (‘‘SROs’’) to 

ensure that ATSs are in compliance 

with Regulation ATS as well as other 

applicable rules and regulations. 

Without the data required by the Rule, 

regulators would be limited in their 

ability to comply with their statutory 

obligations, provide for the protection of 

investors, and promote the maintenance 

of fair and orderly markets. 

Respondents consist of ATSs that 

choose to register as broker-dealers and 

comply with the requirements of 

Regulation ATS. There are currently 81 

respondents. To comply with the record 

preservation requirements of Rule 303, 

these respondents will spend 

approximately 1,215 hours per year (81 

respondents at 15 burden hours/ 

respondent). At an average cost per 

burden hour of $106, the resultant total 

related cost of compliance for these 

respondents is $128,790 per year (1,215 

burden hours multiplied by $106/hour). 

Compliance with Rule 303 is 

mandatory. The information required by 

Rule 303 is available only for the 

examination of the Commission staff, 

state securities authorities and the 

SROs. Subject to the provisions of the 

Freedom of Information Act, 5 U.S.C. 

522 (‘‘FOIA’’), and the Commission’s 

rules thereunder (17 CFR 

200.80(b)(4)(iii)), the Commission does 

not generally publish or make available 

information contained in any reports, 

summaries, analyses, letters, or 

memoranda arising out of, in 

anticipation of, or in connection with an 

examination or inspection of the books 

and records of any person or any other 

investigation. 

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: 

Shagufta_Ahmed@omb.eop.gov; and (ii) 

Charles Boucher, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way, 

Alexandria, VA 22312 or send an e-mail 

to: PRA_Mailbox@sec.gov. Comments 

must be submitted within 30 days of 

this notice. 

Dated: September 3, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–22563 Filed 9–9–10; 8:45 am] 

BILLING CODE 8010–01–P 


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