Document ID: SEC-2006-1031-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2006-08-10T04:00Z

[Federal Register: August 10, 2006 (Volume 71, Number 154)]
[Notices]               
[Page 45864-45865]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10au06-126]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon written request, copies available from: Securities and Exchange

[[Page 45865]]

Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension: Regulation SHO; SEC File No. 270-534; OMB Control No. 
3235-0589.

    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.

Regulation SHO

    Proposed Regulation SHO, Rule 201 (17 CFR 242.200 through 242.203) 
requires each broker-dealer that effects a sell order in any equity 
security to mark the order ``long,'' ``short,'' or ``short exempt.'' 
Proposed Regulation SHO, Rule 201 causes a collection of information 
because the rule's requirement that each order ticket be marked either 
``long,'' ``short,'' or ``short exempt'' is a disclosure to third 
parties and the public imposed on ten or more persons.
    The information required by the rule is necessary for the execution 
of the Commission's mandate under the Exchange Act to prevent 
fraudulent, manipulative, and deceptive acts and practices by broker-
dealers. The purpose of the information collected is to enable 
regulators to monitor whether a person effecting a short sale is acting 
in accordance with proposed Regulation SHO. Without the requirement 
that each order or an equity security be marked either ``long,'' 
``short,'' or ``short exempt,'' there would be no means to police 
compliance with Regulation SHO.
    We assume that all of the approximately 6,752 registered broker-
dealers effect sell orders in securities covered by proposed Regulation 
SHO. For purposes of the Paperwork Reduction Act, the Commission staff 
has estimated that a total of 1,164,755,007 trades are executed 
annually.
    This is an average of approximately 172,505 annual responses by 
each respondent. Each response of marking orders ``long,'' ``short'' or 
``short exempt'' takes approximately .000139 hours (.5 seconds) to 
complete. Thus, the total approximate estimated annual hour burden per 
response). A reasonable estimate for the paperwork compliance for the 
proposed rules for each broker-dealer is approximately 24 burden hours 
6,752 respondents).
    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 R. Corey Booth, Director/
CIO, Office of Information Technology, Securities and Exchange 
Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, 
VA 22312 or send an E-mail to: PRA_Mailbox@sec.gov. Comments must be 
submitted to OMB within 60 days of this notice.

    Dated: July 31, 2006.
Nancy M. Morris,
Secretary.
 [FR Doc. E6-13027 Filed 8-9-06; 8:45 am]

BILLING CODE 8010-01-P