Document ID: SEC-2021-1473-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2021-10-21T04:00Z

[Federal Register Volume 86, Number 201 (Thursday, October 21, 2021)]
[Notices]
[Pages 58329-58330]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-22904]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-451, OMB Control No. 3235-0763]

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 304 of Regulation ATS and Form ATS

    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 304 of Regulation ATS 
(17 CFR 242.304) and Form ATS-N 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.
    Regulation ATS provides a regulatory structure for alternative 
trading systems. Rule 304 of Regulation ATS provides conditions for NMS 
Stock ATSs seeking to rely on the exemption from the definition of 
``exchange'' provided by Rule 3a1-1(a) of the Exchange Act, including 
to file a Form ATS-N, and for that Form ATS-N to become effective. Form 
ATS-N requires NMS Stock ATSs to provide information about their manner 
of operations, the broker-dealer operator, and the ATS-related 
activities of the broker-dealer operator and its affiliates to comply 
with the conditions provided under Rule 304. Form ATS-N promotes more 
efficient and effective market operations by providing more 
transparency to market participants about the operations of NMS Stock 
ATSs and the potential conflicts of interest of the controlling broker-
dealer operator and its affiliates, and helps brokers meet their best 
execution obligations to their customers. Operational transparency 
rules, including Form ATS-N, are designed to increase competition among 
trading centers in regard to order routing and execution quality.
    The Commission staff estimates that entities subject to the 
requirements of Rule 304 and Form ATS-N will spend a total of 
approximately 2,042 hours a year to comply with the Rule.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the

[[Page 58330]]

Commission, including whether the information shall 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: [email protected].

    Dated: October 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-22904 Filed 10-20-21; 8:45 am]
BILLING CODE 8011-01-P