Document ID: SEC-2021-0426-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2021-03-26T04:00Z

[Federal Register Volume 86, Number 57 (Friday, March 26, 2021)]
[Notices]
[Page 16270]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-06241]

[[Page 16270]]

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SECURITIES AND EXCHANGE COMMISSION

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

Proposed Collection; 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'') is soliciting comments on the existing 
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''). The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget (``OMB'') for extension and approval.
    On January 27, 1976, the Commission adopted Rule 11a1-1(T)--
Transactions Yielding Priority, Parity, and Precedence (17 CFR 
240.11a1-1(T)) under the Exchange Act (15 U.S.C. 78a et seq.) to exempt 
certain 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 per year 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 approximately $355, resulting 
in a total internal cost of compliance of approximately $5,325 per year 
(15 hours @ $355).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information will 
have practical utility; (b) the accuracy of the Commission's estimates 
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.
    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.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email 
to: PRA_Mailbox@sec.gov.

    Dated: March 22, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-06241 Filed 3-25-21; 8:45 am]
BILLING CODE 8011-01-P