Document ID: SEC-2006-0219-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2006-02-17T05:00Z

[Federal Register: February 17, 2006 (Volume 71, Number 33)]
[Notices]               
[Page 8624-8625]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr17fe06-120]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, 
DC 20549.

Extension:
    Rule 11a1-1(T); OMB Control No. 3235-0478; SEC File No. 270-428.

    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'') has submitted to the Office of Management 
and Budget requests for extension of the previously approved collection 
of information discussed below.

Rule 11a1-1(T)--Transactions Yielding Priority, Parity, and Precedence

    On January 27, 1976, the Commission adopted Rule 11a1-1(T) under 
the Securities Exchange Act of 1934 (``Exchange Act'') to certain 
exempt transactions of exchange members for their own accounts that 
would otherwise be prohibited under Section 11(a) of the Exchange Act. 
The rule provides that a member's proprietary order may be executed on 
the exchange of which the trader is a member, if, among other things: 
(1) The member discloses that a bid or offer for its account is for its 
account to any member with whom such bid or offer is placed or to whom 
it is communicated; (2) any such member through whom that bid or offer 
is communicated discloses to others participating in effecting the 
order that it is for account of a member; and (3) immediately before 
executing the order, a member (other than a specialist in such 
security) presenting any order for the account of a member on the 
exchange clearly announces or otherwise indicates to the specialist and 
to other members then present that he is presenting an order for the 
account of a member.
    Without these requirements, it would not be possible for the 
Commission to monitor its mandate under the Exchange Act to promote 
fair and orderly markets and ensure that exchange members have, as the 
principle purpose of their exchange memberships, the conduct of a 
public securities business.
    There are approximately 1,000 respondents that require an aggregate 
total of 333 hours to comply with this rule. Each of these 
approximately 1,000 respondents makes an estimated 20 annual responses, 
for an aggregate of 20,000 responses per year. Each response takes 
approximately 1 minute to complete. Thus, the total compliance burden 
per year is 333 hours (20,000 minutes/60 minutes per hour = 333 hours). 
The approximate cost per hour is $100, resulting in a total cost of 
    Compliance with Rule 11a1-1(T) is necessary for exchange members to 
make transactions for their own accounts under a specific exemption 
from the general prohibition of such transactions under Section 11(a) 
of the Exchange Act. Compliance with Rule 11a1-1(T) does not involve 
the collection of confidential information. Rule 11a1-1(T) does not 
have a record retention requirement per se. However, responses made 
pursuant to Rule 11a1-1(T) are subject to the recordkeeping 
requirements of Rules 17a-3 and 17a-4. Please note that an agency may 
not conduct or sponsor, and a person is not required to respond to, a 
collection of information unless it displays a currently valid control 
number.
    Written comments regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Building, 
Washington DC 20503 or by sending an e-mail to 
David_Rostker@omb.eop.gov; and (ii) R.

[[Page 8625]]

Corey Booth, Director/Chief Information Officer, Office of Information 
Technology, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: February 7, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. E6-2297 Filed 2-16-06; 8:45 am]

BILLING CODE 8010-01-P