Proposed Collection; Comment Request

Published date28 December 2018
Record Number2018-28316
SectionNotices
CourtSecurities And Exchange Commission
Federal Register, Volume 83 Issue 248 (Friday, December 28, 2018)
[Federal Register Volume 83, Number 248 (Friday, December 28, 2018)]
                [Notices]
                [Page 67408]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2018-28316]
                -----------------------------------------------------------------------
                SECURITIES AND EXCHANGE COMMISSION
                Proposed Collection; 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:
                 Rules 6a-1 and 6a-2, Form 1, SEC File No. 270-0017, OMB Control
                No. 3235-0017
                 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'') is soliciting comments on the existing
                collection of information provided for in Rule 6a-1 (17 CFR 240.6a-1),
                Rule 6a-2 (17 CFR 240.6a-2), and Form 1 (17 CFR 249.1) under the
                Securities Exchange Act of 1934 (``Exchange 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.
                 The Exchange Act sets forth a regulatory scheme for national
                securities exchanges. Rule 6a-1 under the Exchange 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
                under the Exchange 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 has met the criteria for registration (or an exemption
                from registration) set forth in Section 6 of the Exchange Act. The
                amendments and periodic updates of information submitted pursuant to
                Rule 6a-2 are necessary to assist the Commission in determining whether
                a national securities exchange or exempt exchange is continuing to
                operate in compliance with the Exchange Act.
                 Initial filings on Form 1 by prospective exchanges are made on a
                one-time basis. The Commission estimates that it will receive
                approximately one initial Form 1 filing per year and that each
                respondent would incur an average burden of 880 hours to file an
                initial Form 1 at an average internal compliance cost per response of
                approximately $335,984. Therefore, the Commission estimates that the
                annual burden for all respondents to file the initial Form 1 would be
                880 hours (one response/respondent x one respondent x 880 hours/
                response) and an internal compliance cost of $335,984 (one response/
                respondent x one respondent x $335,984/response).
                 There currently are 21 entities registered as national securities
                exchanges. The Commission estimates that each registered or exempt
                exchange files nine amendments or periodic updates to Form 1 per year,
                incurring an average burden of 25 hours to comply with Rule 6a-2. The
                SEC estimates that the average internal compliance cost for a national
                securities exchange per response would be approximately $8,365. 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
                4,725 hours (21 respondents x 25 hours/response x 9 responses/
                respondent per year) and an internal compliance cost of $1,580,985 (21
                respondents x $8,365/response x 9 responses/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 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
                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 under the PRA unless it
                displays a currently valid OMB control number.
                 Please direct your written comments to: Charles Riddle, Acting
                Director/Chief Information Officer, Securities and Exchange Commission,
                c/o Candace Kenner, 100 F Street NE, Washington, DC 20549, or send an
                email to: PRA_Mailbox@sec.gov.
                 Dated: December 21, 2018.
                Brent J. Fields,
                Secretary.
                [FR Doc. 2018-28316 Filed 12-27-18; 8:45 am]
                 BILLING CODE 8011-01-P
                

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