Document ID: SEC-2018-0090-0003
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2021-04-21T04:00Z

[Federal Register Volume 86, Number 75 (Wednesday, April 21, 2021)]
[Notices]
[Pages 20755-20756]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08135]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-614, OMB Control No. 3235-0682]

Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Rule 13h-1 and Form 13H

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
existing collection of information provided for in Rule 13h-1 (17 CFR 
240.13h-1) and Form 13H--registration of large traders \1\ submitted 
pursuant to Section 13(h) of the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.) (``Exchange Act'').
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    \1\ Rule 13h-1(a)(1) defines ``large trader'' as any person that 
directly or indirectly, including through other persons controlled 
by such person, exercises investment discretion over one or more 
accounts and effects transactions for the purchase or sale of any 
NMS security for or on behalf of such accounts, by or through one or 
more registered broker-dealers, in an aggregate amount equal to or 
greater than the identifying activity level or voluntarily registers 
as a large trader by filing electronically with the Commission Form 
13H.
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    Rule 13h-1 and Form 13H under Section 13(h) of the Exchange Act 
established a large trader reporting framework.\2\ The framework 
assists the Commission in identifying and obtaining certain baseline 
information about traders that conduct a substantial amount of trading 
activity, as measured by volume or market value, in the U.S. securities 
markets.
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    \2\ See Securities Exchange Act Release No. 64976 (July 27, 
2011), 76 FR 46959 (August 3, 2011).
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    The identification, recordkeeping, and reporting framework provides 
the Commission with a mechanism to identify large traders and obtain 
additional information on their trading activity. Specifically, the 
rule requires large traders to identify themselves to the Commission 
and file certain interim updates with the Commission on Form 13H. Upon 
receipt of Form 13H, the Commission issues a unique identification 
number to the large trader, which the large trader then provides to its 
registered broker-dealers. Certain registered broker-dealers are 
required to maintain transaction records for each large trader, and are 
required to report that information to the Commission upon request.\3\ 
In addition, certain registered broker-dealers are required to adopt 
procedures to monitor their customers for activity that would trigger 
the identification requirements of the rule.
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    \3\ The Commission, pursuant to Rule 17a-25 (17 CFR 240.17a-25), 
currently collects transaction data from registered broker-dealers 
through the Electronic Blue Sheets (``EBS'') system to support its 
regulatory and enforcement activities. The large trader framework 
added two new fields, the time of the trade and the identity of the 
trader, to the EBS system.
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    The respondents to the collection of information required by Rule 
13h-1 and Form 13H are large traders and

[[Page 20756]]

registered broker-dealers. The Commission estimates that the total 
annual time burden associated with Rule 13h-1 and Form 13H is 
approximately 185,200 hours per year. This burden is comprised of 
23,500 hours for initial filings by large traders on Form 13H, 58,500 
hours for updates by large traders, 96,000 hours for broker-dealer 
reporting, and 7,200 hours for broker-dealer monitoring.
    Compliance with Rule 13h-1 is mandatory. The information collection 
under Rule 13h-1 is considered confidential subject to the limited 
exceptions provided by the Freedom of Information Act.\4\
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    \4\ See 5 U.S.C. 552 and 15 U.S.C. 78m(h)(7).
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    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    The public may view background documentation for this information 
collection at the following website: www.reginfo.gov. Find this 
particular information collection by selecting ``Currently under 30-day 
Review--Open for Public Comments'' or by using the search function. 
Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to (i) www.reginfo.gov/public/do/PRAMain and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by 
sending an email to: PRA_Mailbox@sec.gov.

    Dated: April 15, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-08135 Filed 4-20-21; 8:45 am]
BILLING CODE 8011-01-P