Document ID: SEC-2010-1346-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2010-09-03T04:00Z

[Federal Register: September 3, 2010 (Volume 75, Number 171)]
[Notices]               
[Page 54197]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr03se10-109]                         

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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 Investor Education and Advocacy, Washington, 
DC 20549-0213.
Extension:
    Rule 302; SEC File No. 270-453; OMB Control No. 3235-0510.

    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 a request for approval of extension of the previously 
approved collection of information provided for in Rule 302 (17 CFR 
242.302) of Regulation ATS (17 CFR 242.300 et seq.) under the 
Securities and Exchange Act of 1934 (``Act'') (15 U.S.C. 78a et seq.).
    Regulation ATS sets forth a regulatory regime for ``alternative 
trading systems'' (``ATSs''), which are entities that carry out 
exchange functions but which are not required to register as national 
securities exchanges under the Act. In lieu of exchange registration, 
an ATS can instead opt to register with the Commission as a broker-
dealer and, as a condition to not having to register as an exchange, 
must instead comply with Regulation ATS. Rule 302 of Regulation ATS (17 
CFR 242.302) describes the recordkeeping requirements for ATSs. Under 
Rule 302, ATSs are required to make a record of subscribers to the ATS, 
daily summaries of trading in the ATS, and time-sequenced records of 
order information in the ATS.
    The information required to be collected under Rule 302 should 
increase the abilities of the Commission, state securities regulatory 
authorities, and the self-regulatory organizations (``SROs'') to ensure 
that ATSs are in compliance with Regulation ATS as well as other 
applicable rules and regulations. If the information is not collected 
or collected less frequently, the regulators would be limited in their 
ability to comply with their statutory obligations, provide for the 
protection of investors, and promote the maintenance of fair and 
orderly markets.
    Respondents consist of ATSs that choose to register as broker-
dealers and comply with the requirements of Regulation ATS. There are 
currently 81 respondents. These respondents will spend approximately 
10,530 hours per year (81 respondents at 130 burden hours/respondent) 
to comply with the recordkeeping requirements of Rule 302. At an 
average cost per burden hour of $59, the resultant total related cost 
of compliance for these respondents is $621,270.00 per year (10,530 
burden hours multiplied by $59/hour).
    Compliance with Rule 302 is mandatory. The information required by 
Rule 302 is available only for the examination of the Commission staff, 
state securities authorities, and the SROs. Subject to the provisions 
of the Freedom of Information Act, 5 U.S.C. Sec.  522 (``FOIA''), and 
the Commission's rule (17 CFR 200.80(b)(4)(iii)), the Commission does 
not generally publish or make available information contained in any 
reports, summaries, analyses, letters, or memoranda arising out of, in 
anticipation of, or in connection with an examination or inspection of 
the books and records of any person or any other investigation.
    ATSs are required to preserve any records, for at least three 
years, made in the process of complying with the requirements set out 
in Rule 302.
    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.
    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 e-mail to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Charles Boucher, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an e-mail to: 
PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this 
notice.

    Dated; August 30, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-22027 Filed 9-2-10; 8:45 am]
BILLING CODE 8010-01-P