Document ID: SEC-2013-1028-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2013-06-06T04:00Z

[Federal Register Volume 78, Number 109 (Thursday, June 6, 2013)]
[Notices]
[Pages 34135-34136]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-13383]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 19b-5 and Form PILOT; SEC File No. 270-448; OMB Control No. 
3235-0507.

    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 existing 
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, as amended (``Act'') (15 U.S.C. 78a et seq.). The Commission 
plans to submit this existing collection of information to the Office 
of Management and Budget (``OMB'') for extension and approval.
    Rule 19b-5 provides a temporary exemption from the rule-filing 
requirements of Section 19(b) of the 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

[[Page 34136]]

develop a pilot trading system and to begin operation of such system 
shortly after submitting an initial report on Form PILOT to the 
Commission. During operation of any such pilot trading system, the SRO 
must submit quarterly reports of the system's operation to the 
Commission, as well as timely amendments describing any material 
changes to the system. After 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 Act (15 U.S.C. 
78s(b)(2)) in order to obtain permanent approval of the pilot trading 
system from the Commission.
    The collection of information is designed to allow the Commission 
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 Act, and is carrying out its 
statutory oversight obligations under the Act.
    The respondents to the collection of information are national 
securities exchanges and national securities associations.
    While there are 17 national securities exchanges and national 
securities associations that may avail themselves of the exemption 
under Rule 19b-5 and the use of Form PILOT, it is estimated that 
approximately three respondents will file a total of 3 initial reports, 
12 quarterly reports, and 6 amendments on Form PILOT per year, with an 
estimated total annual response burden of 126 hours. At an average 
hourly cost of $350.07, the estimated aggregate related cost of 
compliance with Rule 19b-5 for all respondents is $44,109 per year (126 
burden hours multiplied by $350.07/hour = $44,109).
    Written comments are invited on (a) whether the proposed collection 
of information is necessary for the proper performance of the functions 
of the 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 to be 
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 unless it displays a 
currently valid OMB control number.
    Please direct your written comments to: Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an email to: PRA_Mailbox@sec.gov.

    Dated: May 31, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-13383 Filed 6-5-13; 8:45 am]
BILLING CODE 8011-01-P