Document ID: SEC-2007-0723-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2007-05-22T04:00Z

[Federal Register: May 22, 2007 (Volume 72, Number 98)]
[Notices]               
[Page 28731-28732]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22my07-115]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon written request, copies available from: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Rule 302, SEC File No. 270-453, OMB Control No. 3235-0510.

    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 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.
    Regulation ATS (17 CFR 242.300 et seq.) under the Securities 
Exchange Act of 1934 (15 U.S.C. 78a et seq.) provides a regulatory 
structure that directly addresses issues related to alternative trading 
systems' role in the marketplace. Regulation ATS allows alternative 
trading systems to choose between two regulatory structures. 
Alternative trading systems have the choice between registering as 
broker-dealers and complying with Regulation ATS or registering as 
national securities exchanges. Regulation ATS provides the regulatory 
framework for those alternative trading systems that choose to be 
regulated as broker-dealers. Rule 302 of Regulation ATS describes the 
recordkeeping requirements for alternative trading systems that are not 
national securities exchanges. Under Rule 302, alternative trading 
systems are required to make a record of subscribers to the alternative 
trading system, daily summaries of trading in the alternative trading 
system, and time-sequenced records of order information in the 
alternative trading system.
    The information required to be collected under the Rule should 
increase the abilities of the Commission, state securities regulatory 
authorities, and the SROs to ensure that alternative trading systems 
are in compliance with Regulation ATS as well as other rules and 
regulations of the Commission and the SROs. If the information is not 
collected or is collected less frequently, the Commission would be 
severely limited in its ability to comply with its statutory 
obligations, provide for the protection of investors and promote the 
maintenance of fair and orderly markets.
    Respondents consist of alternative trading systems that choose to 
register as broker-dealers and comply with the requirements of 
Regulation ATS. The Commission estimates that there are currently 
approximately 65 respondents.
    An estimated 65 respondents will spend approximately 2,340 hours 
per year (65 respondents at 36 burden hours/respondent) to comply with 
the recordkeeping requirements of Rule 302. At an average cost per 
burden hour of $86.54, the resultant total related cost of compliance 
for these respondents is $202,504.00 per year (2,340 burden hours 
multiplied by $86.54/hour; a slight discrepancy is due to arithmetic 
rounding).
    Written comments are invited on (a) Whether the proposed collection 
of information is necessary for the proper

[[Page 28732]]

performance of the functions of the agency, including whether the 
information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the proposed collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information 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.
    Comments should be directed to: R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 60 
days of this notice.

    Dated: May 16, 2007.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E7-9809 Filed 5-21-07; 8:45 am]

BILLING CODE 8010-01-P