80 FR 76601 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 236 (December 9, 2015)

[Federal Register Volume 80, Number 236 (Wednesday, December 9, 2015)]
[Notices]
[Page 76601]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-30866]


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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: 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 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 6a-1 (17 CFR 240.6-1), 
Rule 6-2 (17 CFR 240.6-2), and Form 1 (17 CFR 249.1) under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act'' or Act''). 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 6-1 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 6-2 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 6-1 and 
6-2 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 6-1 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 6-2 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 new 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 labor cost per response of approximately $302,694. 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 respondents x 880 hours/response) and an internal cost of 
compliance of $302,694 (one response/respondent x one respondents x 
$302,694/response).
    There currently are 18 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 6-2. The 
SEC estimates that the average internal labor cost for a national 
securities exchange per response would be approximately $9,445. The 
Commission estimates that the annual burden for all respondents to file 
amendments and periodic updates to the Form 1 pursuant to Rule 6-2 is 
4,050 hours (18 respondents x 25 hours/response x nine responses/
respondent per year) and an internal cost of compliance of $1,530,090 
(18 respondents x $9,445/response x nine 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 
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 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: Pamela Dyson, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or send an email 
to: [email protected].

     Dated: December 2, 2015.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-30866 Filed 12-8-15; 8:45 am]
BILLING CODE 8011-01-P