Document ID: SEC-2010-1299-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2010-08-25T04:00Z

[Federal Register: August 25, 2010 (Volume 75, Number 164)]
[Notices]               
[Page 52379-52380]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr25au10-117]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-2013.

Revision:
    Rule 602; SEC File No. 270-404; OMB Control No. 3235-0461.

    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 existing 
collection of information provided for in Rule 602 of Regulation NMS 
(17 CFR 240.602), under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.). The Commission plans to submit this existing collection 
of information to the Office of Management and Budget for revision and 
approval.
    Rule 602 of Regulation NMS, Dissemination of Quotations in NMS 
securities, contains two related collections. The first collection of 
information is found in Rule 602(a).\1\ This reporting requirement 
obligates each national securities exchange and

[[Page 52380]]

national securities association to make available to quotation vendors 
for dissemination to the public the best bid, best offer, and aggregate 
quotation size for each ``subject security,'' as defined under the 
Rule. The second collection of information is found in Rule 602(b).\2\ 
This reporting requirement obligates exchange members and over-the-
counter (``OTC'') market makers that are a ``responsible broker or 
dealer,'' as defined under the Rule, to communicate to an exchange or 
association their best bids, best offers, and quotation sizes for 
subject securities.\3\
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    \1\ 17 CFR 242.602(a).
    \2\ 17 CFR 242.602(b).
    \3\ Under Rule 602(b)(5), electronic communications networks 
(``ECNs'') have the option of reporting to an exchange or 
association for public dissemination, on behalf of customers that 
are OTC market makers or exchange market makers, the best-priced 
orders and the full size for such orders entered by market makers on 
the ECN, to satisfy such market makers' reporting obligation under 
Rule 602(b). Since this reporting requirement is an alternative 
method of meeting the market makers' reporting obligation, and 
because it is directed to nine or fewer persons (ECNs), this 
collection of information is not subject to OMB review under the 
Paperwork Reduction Act (``PRA'').
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    It is anticipated that 15 respondents, consisting of 14 national 
securities exchanges and one national securities association, will 
collectively respond approximately 741,127,661,148 times per year 
pursuant to Rule 602(a) at 18.22 microseconds per response, resulting 
in an annual aggregate burden of approximately 3,750 hours.
    It is anticipated that approximately 130 respondents, consisting of 
OTC market makers, will collectively respond approximately 24,440,000 
times per year pursuant to Rule 602(b) at 3 seconds per response, 
resulting in an annual aggregate burden of approximately 20,367 hours.
    Written comments are invited on: (a) Whether the proposed 
collections of information are 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 estimate 
of the burden of the proposed collections of information; (c) ways to 
enhance the quality, utility, and clarity of the information to be 
collected; and (d) ways to minimize the burden of collections of 
information on those who are to respond, 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: Charles Boucher, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Shirley Martinson, 6432 General Green Way, Alexandria, Virginia 22312 
or send an e-mail to: PRA_Mailbox@sec.gov.

    Dated: August 18, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-21035 Filed 8-24-10; 8:45 am]
BILLING CODE 8010-01-P