Document ID: SEC-2007-0537-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2007-04-12T04:00Z

[Federal Register: April 12, 2007 (Volume 72, Number 70)]
[Notices]               
[Page 18494-18495]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr12ap07-86]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

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

Extension:
    Form 1, Rules 6a-1 and 6a-2; SEC File No. 270-0017; OMB Control 
No. 3235-0017.

    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.
    The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq) 
(``Act'') sets forth a regulatory scheme for national securities 
exchanges. Rule 6a-1 (17 CFR 240.6a-1) under the Act generally requires 
an applicant for initial registration as a national securities exchange 
to file an application with the Commission on Form 1. An exchange that 
seeks an exemption from registration based on limited trading volume 
also must apply for such exemption on Form 1. Rule 6a-2 (17 CFR 240.6a-
2) under the Act requires registered and exempt exchanges: (1) To amend 
the Form 1 if there are any material changes to the information 
provided in the initial Form 1; and (2) to submit periodic updates of 
certain information provided in the initial Form 1, whether such 
information has changed or not. The information required pursuant to 
Rules 6a-1 and 6a-2 is necessary to enable the Commission to maintain 
accurate files regarding the exchange and to exercise its statutory 
oversight functions. Without the information submitted pursuant to Rule 
6a-1 on Form 1, the Commission would not be able to determine whether 
the respondent met the criteria for registration or exemption set forth 
in Sections 6 and 19 of the Act. Without the amendments and periodic 
updates of information submitted pursuant to Rule 6a-2, the Commission 
would have substantial difficulty determining whether a national 
securities exchange or exempt exchange was continuing to operate in 
compliance with the Act.
    The respondents to the collection of information are entities that 
seek registration as a national securities exchange or that seek 
exemption from registration based on limited trading volume. After the 
initial filing of Form 1, both registered and exempt exchanges are 
subject to ongoing informational requirements.
    Initial filings on Form 1 by new exchanges are made on a one-time 
basis. The Commission estimates that it will receive approximately 
three initial Form 1 filings per year and that each respondent would 
incur an average burden of 47 hours to file an initial Form 1 at an 
average cost per response of approximately $4517. Therefore, the 
Commission estimates that the annual burden for all respondents to file 
the initial Form 1 would be 141 hours (one response/respondent x three 
respondents x 47 hours/response) and $13,551 (one response/respondent x 
three respondents x $4517/response).
    There currently are ten entities registered as national securities 
exchanges and two exempt exchanges. The Commission estimates that each 
registered or exempt exchange files one amendment or periodic update to 
Form 1 per year, incurring an average burden of 25 hours to comply with 
Rule 6a-2. The Commission estimates that the annual burden for all 
respondents to file amendments and periodic updates to the Form 1 
pursuant to Rule 6a-2 is 300 hours (12 respondents x 25 hours/response 
x one response/respondent per year) and $27,960 (12 respondents x 
$2330/response x one response/respondent per year).
    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 shall 
have practical utility; (b) the accuracy of the agency's estimate 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

[[Page 18495]]

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.
    Comments should be directed to: R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send 
an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB 
within 60 days of this notice.

    Dated: April 5, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-6892 Filed 4-11-07; 8:45 am]

BILLING CODE 8010-01-P