Document ID: SEC-2019-1114-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2019-08-05T04:00Z

[Federal Register Volume 84, Number 150 (Monday, August 5, 2019)]
[Notices]
[Pages 38085-38086]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-16599]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-448, OMB Control No. 3235-0507]

Submission for OMB Review; 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 19b-5 and Form PILOT

    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 (``SEC'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 19b-
5 (17 CFR 240.19b-5) and Form PILOT (17 CFR 249.821) under the 
Securities Exchange Act of 1934 (``Exchange Act'') (15 U.S.C. 78a et 
seq.).
    Rule 19b-5 provides a temporary exemption from the rule-filing 
requirements of Section 19(b) of the Exchange Act (15 U.S.C. 78s(b)) to 
self-regulatory organizations (``SROs'') wishing to establish and 
operate pilot trading systems. Rule 19b-5 permits an SRO to develop a 
pilot trading system and to begin operation of such system shortly 
after submitting an initial report on Form PILOT to the SEC. During 
operation of any such pilot trading system, the SRO must submit 
quarterly reports of the system's operation to the SEC, as well as 
timely amendments describing any material changes to the system. Within 
two years of operating such pilot trading system under the exemption 
afforded by Rule 19b-5, the SRO must submit a rule filing pursuant to 
Section 19(b)(2) of the Exchange Act (15 U.S.C. 78s(b)(2)) to obtain 
permanent approval of the pilot trading system from the SEC.
    The collection of information is designed to allow the SEC to 
maintain an accurate record of all new pilot trading systems operated 
by SROs and to determine whether an SRO has properly availed itself of 
the exemption afforded by Rule 19b-5, is operating a pilot trading 
system in compliance with the Exchange Act, and is carrying out its 
statutory oversight obligations under the Exchange Act.
    The respondents to the collection of information are national 
securities exchanges and national securities associations.
    There are 23 SROs which could avail themselves of the exemption 
under Rule 19b-5 and the use of Form PILOT. The SEC estimates that 
approximately three of these SROs, in the aggregate, each year will 
file on Form PILOT one initial report (i.e., 3 reports total, for an 
estimated annual burden of 72 hours total), four quarterly reports 
(i.e., 12 reports total, for an estimated annual burden of 36 hours 
total), and two amendments (i.e., 6 reports total, for an estimated 
annual burden of 18 hours total). Thus, the estimated annual response 
burden resulting from Form PILOT is 42 hours per SRO, or a total of 126 
hours for the three SROs. The SEC estimates that the aggregate annual 
internal cost of compliance for all three respondents is approximately 
$38,094 (126 hours at an average of $302.333 per hour). In addition, 
the SEC estimates that the three SRO respondents will incur, in the 
aggregate, printing, supplies, copying, and postage expenses of $6,101 
per year for filing initial reports, $3,046 per year for filing 
quarterly reports, and $1,523 per year for filing notices of material 
systems changes, for a total annual cost burden of $10,670 for all 
three respondents.
    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.
    The public may view background documentation for this information 
collection at the following website, www.reginfo.gov. Comments should 
be directed to: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Information and Regulatory Affairs, Office of 
Management and Budget, Room 10102, New Executive Office Building, 
Washington, DC 20503, or by sending an email to: 
lindsay.m.abate@omb.eop.gov; and (ii) Charles Riddle, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Candace Kenner, 100 F Street NE, Washington, DC 20549, or by sending an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

[[Page 38086]]

    Dated: July 30, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-16599 Filed 8-2-19; 8:45 am]
 BILLING CODE 8011-01-P