Document ID: SEC-2019-0930-0002
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2022-05-27T04:00Z

[Federal Register Volume 87, Number 103 (Friday, May 27, 2022)]
[Notices]
[Page 32212]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-11390]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-537, OMB Control No. 3235-0597]

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 31 and Form R31

    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 31 (17 CFR 
240.31) and Form R31 (17 CFR 249.11) under the Securities Exchange Act 
of 1934 (15 U.S.C. 78ee) (``Exchange Act''). The Commission plans to 
submit this existing collection of information to the Office of 
Management and Budget (``OMB'') for extension and approval.
    Section 31 of the Exchange Act requires the Commission to collect 
fees and assessments from national securities exchanges and national 
securities associations (collectively, ``self-regulatory 
organizations'' or ``SROs'') based on the volume of their securities 
transactions. To collect the proper amounts, the Commission adopted 
Rule 31 and Form R31 under the Exchange Act whereby each SRO must 
report to the Commission the volume of its securities transactions and 
the Commission, based on those data, calculates the amount of fees and 
assessments that each SRO owes pursuant to Section 31. Rule 31 and Form 
R31 require each SRO to provide these data on a monthly basis.
    Currently, there are 27 respondents under Rule 31 that are subject 
to the collection of information requirements of Rule 31: 24 national 
securities exchanges, one national securities association, and two 
registered clearing agencies that are required to provide certain data 
in their possession needed by the SROs to complete Form R31, although 
these two clearing agencies are not themselves required to complete and 
submit Form R31.\1\ The Commission estimates that the total burden for 
all 27 respondents is 432 hours per year. The Commission estimates 
that, based on previous and current experience, three additional 
national securities exchanges will become registered and subject to the 
reporting requirements of Rule 31 over the course of the authorization 
period and collectively incur a burden of 18 hours per year. Thus, the 
Commission estimates the collective burden for all respondents 
(existing and new added together) to be 450 hours per year. The SEC 
does not believe that the 27 existing or 3 expected new respondents 
will have to incur any capital or start-up costs, or any additional 
operational or maintenance costs (other than as already discussed in 
this paragraph), to comply with the collection of information 
requirements imposed by Rule 31 and Form R31. The SEC estimates that 
the average annual cost to the SEC of processing all of these filings 
would be $20,307.48 (90.1 hours at an average of $225.39 per hour).
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    \1\ Since the last renewal period, when there was one security 
futures exchange that reported transactions, that exchanged has 
ceased operation. Therefore, currently, no security futures 
exchanges report any transaction in security futures on Form R31.
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    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 
shall have practical utility; (b) the accuracy of the Commission's 
estimate of the burden of the proposed collection 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 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 by July 26, 2022.
    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 John 
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: 
[email protected].

    Dated: May 23, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-11390 Filed 5-26-22; 8:45 am]
BILLING CODE 8011-01-P