Document ID: SEC-2006-1355-0001
Agency: sec
Document Type: Notice
Title: Agency information collection activities; proposals, submissions, and approvals
Posted Date: 2006-10-19T04:00Z

[Federal Register: October 19, 2006 (Volume 71, Number 202)]
[Notices]               
[Page 61809]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr19oc06-136]                         

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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.

Regulation SHO; SEC File No. 270-534; OMB Control No. 3235-0589.

    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 
request for extension of the previously approved collection of 
information discussed below.

Regulation SHO

    Proposed Regulation SHO, Rule 201 (17 CFR 242.200 through 242.203) 
requires each broker-dealer that effects a sell order in any equity 
security to mark the order ``long,'' short,'' or ``short exempt.'' 
Proposed Regulation SHO, Rule 201 causes a collection of information 
because the rule's requirement that each order ticket be marked either 
``long,'' ``short,'' or ``short exempt'' is a disclosure to third 
parties and the public imposed on ten or more persons.
    The information required by the rule is necessary for the execution 
of the Commission's mandate under the Exchange Act to prevent 
fraudulent, manipulative, and deceptive acts and practices by broker-
dealers. The purpose of the information collected is to enable 
regulators to monitor whether a person effecting a short sale is acting 
in accordance with proposed Regulation SHO. Without the requirement 
that each order or an equity security be marked either ``long,'' 
``short,'' or ``short exempt,'' there would be no means to police 
compliance with Regulation SHO.
    We assume that all of the approximately 6,752 registered broker-
dealers effect sell orders in securities covered by proposed Regulation 
SHO. For purposes of the Paperwork Reduction Act, the Commission staff 
has estimated that a total of 1,164,755,007 trades are executed 
annually.
    This is an average of approximately 172,505 annual responses by 
each respondent. Each response of marking orders ``long,'' ``short,'' 
or ``short exempt'' takes approximately .000139 hours (.5 seconds) to 
complete. Thus, the total approximate estimated annual hour burden per 
response). A reasonable estimate for the paperwork compliance for the 
proposed rules for each broker-dealer is approximately 24 burden hours 
6,752 respondents).
    The retention period for the recordkeeping requirement under 
Regulation SHO is three years following the trade date. The 
recordkeeping requirement under this Rule is mandatory to assist the 
Commission with monitoring the short sales of securities. This rule 
does not involve the collection of confidential information. 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.
    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: 
David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/CIO, Office of 

Information Technology, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: October 10, 2006.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. E6-17397 Filed 10-18-06; 8:45 am]

BILLING CODE 8011-01-P