Document ID: SEC-2011-0394-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2011-03-23T04:00Z

[Federal Register Volume 76, Number 56 (Wednesday, March 23, 2011)]
[Notices]
[Pages 16461-16462]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-6809]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.

Extension:
    Rule 609 and Form SIP; SEC File No. 270-23; OMB Control No. 
3235-0043.

    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 for Rule 609 (17 CFR 242.609) 
(formerly Rule 11Ab2-1) and Form SIP (17 CFR 249.1001), titled

[[Page 16462]]

``Registration of securities information processors: form of 
application and amendments''.
    On September 23, 1975, the Commission adopted Rule 11Ab2-1 and Form 
SIP under the Securities Exchange Act of 1934 (``Act'') (15 U.S.C. 78a 
et seq.) to establish the procedures by which Securities Information 
Processor (``SIP'') files and amends their SIP registration 
statements.\1\ Under Regulation NMS Rule 11Ab2-1was redesignated as 
Rule 609.\2\ The information filed with the Commission pursuant to Rule 
609 and Form SIP is designed to provide the Commission with the 
information necessary to make the required findings under the Act 
before granting the SIP's application for registration. In addition, 
the requirement that a SIP file an amendment to correct any inaccurate 
information is designed to assure that the Commission has current, 
accurate information with respect to the SIP. This information is also 
made available to members of the public.
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    \1\ See Securities Exchange Act Release No. 11673 (September 23, 
1975), 40 FR 45422 (October 2, 1975).
    \2\ See Securities Exchange Act Release No. 51808 (June 9, 
2005), 70 FR 37496 (June 29, 2005).
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    Only exclusive SIPs are required to register with the Commission. 
An exclusive SIP is a SIP that engages on an exclusive basis on behalf 
of any national securities exchange or registered securities 
association, or any national securities exchange or registered 
securities association which engages on an exclusive basis on its own 
behalf, in collecting, processing, or preparing for distribution or 
publication, any information with respect to (i) transactions or 
quotations on or effective or made by means of any facility of such 
exchange or (ii) quotations distributed or published by means of any 
electronic quotation system operated by such association. The Federal 
securities laws require that before the commission may approve the 
registration of an exclusive SIP, it must make certain mandatory 
findings. It takes a SIP applicant approximately 400 hours to prepare 
documents which include sufficient information to enable the Commission 
to make those findings. Currently, there are only two exclusive SIPs 
registered with the Commission; The Securities Information Automation 
Corporation (``SIAC'') and The Nasdaq Stock Market, LLC (``Nasdaq''). 
SIAC and Nasdaq are required to keep the information on file with the 
Commission current, which entails filing a form SIP annually to update 
information.
    Accordingly, the annual reporting and recordkeeping burden for Rule 
609 and Form SIP is 400 hours; the burden of information collection is 
estimated to involve approximately 1 respondent application for 
registration making 1 response per year. This annual reporting and 
recordkeeping burden does not include the burden hours or cost of 
amending a Form SIP because the Commission has already overstated the 
compliance burdens by assuming that the Commission will receive one 
initial registration pursuant to Rule 609 on Form SIP a year.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the 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.
    Please direct your written comments to: Thomas Bayer, Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: March 17, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-6809 Filed 3-22-11; 8:45 am]
BILLING CODE 8011-01-P