81 FR 26274 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 84 (May 2, 2016)

Page Range		26274-26274
FR Document		2016-10111
Federal Register, Volume 81 Issue 84 (Monday, May 2, 2016)
[Federal Register Volume 81, Number 84 (Monday, May 2, 2016)]
[Notices]
[Page 26274]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-10111]


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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: Rule 303, SEC File No. 270-450, OMB Control No. 3235-0505

    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 303 (17 CFR 
242.303) of Regulation ATS (17 CFR 242.300 et seq.) under the 
Securities and Exchange Act of 1934 (``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.
    Regulation ATS sets forth a regulatory regime for ``alternative 
trading systems'' (``ATSs''), which are entities that carry out 
exchange functions but which are not required to register as national 
securities exchanges under the Act. In lieu of exchange registration, 
an ATS can instead opt to register with the Commission as a broker-
dealer and, as a condition to not having to register as an exchange, 
must instead comply with Regulation ATS. Rule 303 of Regulation ATS (17 
CFR 242.303) describes the record preservation requirements for ATSs. 
Rule 303 also describes how such records must be maintained, what 
entities may perform this function, and how long records must be 
preserved.
    Under Rule 303, ATSs are required to preserve all records made 
pursuant to Rule 302, which includes information relating to 
subscribers, trading summaries, and time-sequenced order information. 
Rule 303 also requires ATSs to preserve any notices provided to 
subscribers, including, but not limited to, notices regarding the ATSs 
operations and subscriber access. For an ATS subject to the fair access 
requirements described in Rule 301(b)(5)(ii) of Regulation ATS, Rule 
303 further requires the ATS to preserve at least one copy of its 
standards for access to trading, all documents relevant to the ATS's 
decision to grant, deny, or limit access to any person, and all other 
documents made or received by the ATS in the course of complying with 
Rule 301(b)(5) of Regulation ATS. For an ATS subject to the capacity, 
integrity, and security requirements for automated systems under Rule 
301(b)(6) of Regulation ATS, Rule 303 requires an ATS to preserve all 
documents made or received by the ATS related to its compliance, 
including all correspondence, memoranda, papers, books, notices, 
accounts, reports, test scripts, test results, and other similar 
records. As provided in Rule 303(a)(1), ATSs are required to keep all 
of these records, as applicable, for a period of at least three years, 
the first two in an easily accessible place. In addition, Rule 303 
requires ATSs to preserve records of partnership articles, articles of 
incorporation or charter, minute books, stock certificate books, copies 
of reports filed pursuant to Rule 301(b)(2), and records made pursuant 
to Rule 301(b)(5) for the life of the ATS.
    The information contained in the records required to be preserved 
by Rule 303 will be used by examiners and other representatives of the 
Commission, state securities regulatory authorities, and the self-
regulatory organizations to ensure that ATSs are in compliance with 
Regulation ATS as well as other applicable rules and regulations. 
Without the data required by the Rule, regulators would be limited in 
their ability to comply with their statutory obligations, provide for 
the protection of investors, and promote the maintenance of fair and 
orderly markets.
    Respondents consist of ATSs that choose to register as broker-
dealers and comply with the requirements of Regulation ATS. There are 
currently 84 respondents. To comply with the record preservation 
requirements of Rule 303, these respondents will spend approximately 
1,260 hours per year (84 respondents at 15 burden hours/respondent).
    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: 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: April 26, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10111 Filed 4-29-16; 8:45 am]
 BILLING CODE 8011-01-P
26274 Federal Register / Vol. 81, No. 84 / Monday, May 2, 2016 / Notices

post all comments on the Commission’s 78a et seq.). The Commission plans to representatives of the Commission, state
Internet Web site (http://www.sec.gov/ submit this existing collection of securities regulatory authorities, and the
rules/sro.shtml). Copies of the information to the Office of self-regulatory organizations to ensure
submission, all subsequent Management and Budget (‘‘OMB’’) for that ATSs are in compliance with
amendments, all written statements extension and approval. Regulation ATS as well as other
with respect to the proposed rule Regulation ATS sets forth a regulatory applicable rules and regulations.
change that are filed with the regime for ‘‘alternative trading systems’’ Without the data required by the Rule,
Commission, and all written (‘‘ATSs’’), which are entities that carry regulators would be limited in their
communications relating to the out exchange functions but which are
ability to comply with their statutory
proposed rule change between the not required to register as national
obligations, provide for the protection of
Commission and any person, other than securities exchanges under the Act. In
lieu of exchange registration, an ATS investors, and promote the maintenance
those that may be withheld from the of fair and orderly markets.
public in accordance with the can instead opt to register with the
provisions of 5 U.S.C. 552, will be Commission as a broker-dealer and, as Respondents consist of ATSs that
available for Web site viewing and a condition to not having to register as choose to register as broker-dealers and
printing in the Commission’s Public an exchange, must instead comply with comply with the requirements of
Reference Room, 100 F Street NE., Regulation ATS. Rule 303 of Regulation Regulation ATS. There are currently 84
Washington, DC 20549 on official ATS (17 CFR 242.303) describes the respondents. To comply with the record
business days between the hours of record preservation requirements for preservation requirements of Rule 303,
10:00 a.m. and 3:00 p.m. Copies of the ATSs. Rule 303 also describes how such these respondents will spend
filing also will be available for records must be maintained, what approximately 1,260 hours per year (84
inspection and copying at the principal entities may perform this function, and respondents at 15 burden hours/
office of NSCC and on DTCC’s Web site how long records must be preserved. respondent).
(http://dtcc.com/legal/sec-rule- Under Rule 303, ATSs are required to
preserve all records made pursuant to Written comments are invited on (a)
filings.aspx). All comments received
Rule 302, which includes information whether the proposed collection of
will be posted without change; the
relating to subscribers, trading information is necessary for the proper
Commission does not edit personal
identifying information from summaries, and time-sequenced order performance of the functions of the
submissions. You should submit only information. Rule 303 also requires Commission, including whether the
information that you wish to make ATSs to preserve any notices provided information shall have practical utility;
available publicly. All submissions to subscribers, including, but not (b) the accuracy of the Commission’s
should refer to File Number SR–NSCC– limited to, notices regarding the ATSs estimates of the burden of the proposed
operations and subscriber access. For an collection of information; (c) ways to
2016–001 and should be submitted on
ATS subject to the fair access enhance the quality, utility, and clarity
or before May 23, 2016.
requirements described in Rule of the information collected; and (d)
For the Commission, by the Division of 301(b)(5)(ii) of Regulation ATS, Rule
Trading and Markets, pursuant to delegated ways to minimize the burden of the
303 further requires the ATS to preserve collection of information on
authority.9 at least one copy of its standards for
Robert W. Errett, respondents, including through the use
access to trading, all documents relevant
Deputy Secretary. of automated collection techniques or
to the ATS’s decision to grant, deny, or
[FR Doc. 2016–10150 Filed 4–29–16; 8:45 am] limit access to any person, and all other other forms of information technology.
BILLING CODE 8011–01–P documents made or received by the ATS Consideration will be given to
in the course of complying with Rule comments and suggestions submitted in
301(b)(5) of Regulation ATS. For an ATS writing within 60 days of this
SECURITIES AND EXCHANGE subject to the capacity, integrity, and publication.
COMMISSION security requirements for automated An agency may not conduct or
systems under Rule 301(b)(6) of sponsor, and a person is not required to
Proposed Collection; Comment Regulation ATS, Rule 303 requires an respond to, a collection of information
Request ATS to preserve all documents made or under the PRA unless it displays a
Upon Written Request, Copies Available received by the ATS related to its currently valid OMB control number.
From: Securities and Exchange compliance, including all
correspondence, memoranda, papers, Please direct your written comments
Commission, Office of FOIA Services, to: Pamela Dyson, Director/Chief
100 F Street NE., Washington, DC books, notices, accounts, reports, test
scripts, test results, and other similar Information Officer, Securities and
20549–2736 Exchange Commission, c/o Remi Pavlik-
records. As provided in Rule 303(a)(1),
Extension: Rule 303, SEC File No. 270–450, ATSs are required to keep all of these Simon, 100 F Street NE., Washington,
OMB Control No. 3235–0505 DC 20549, or send an email to: PRA_
records, as applicable, for a period of at
Notice is hereby given that, pursuant least three years, the first two in an Mailbox@sec.gov.
to the Paperwork Reduction Act of 1995 easily accessible place. In addition, Rule Dated: April 26, 2016.
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 303 requires ATSs to preserve records of
Robert W. Errett,
Securities and Exchange Commission partnership articles, articles of
(‘‘Commission’’) is soliciting comments incorporation or charter, minute books, Deputy Secretary.
srobinson on DSK5SPTVN1PROD with NOTICES

on the existing collection of information stock certificate books, copies of reports [FR Doc. 2016–10111 Filed 4–29–16; 8:45 am]
provided for in Rule 303 (17 CFR filed pursuant to Rule 301(b)(2), and BILLING CODE 8011–01–P
242.303) of Regulation ATS (17 CFR records made pursuant to Rule 301(b)(5)
242.300 et seq.) under the Securities and for the life of the ATS.
Exchange Act of 1934 (‘‘Act’’) (15 U.S.C. The information contained in the
records required to be preserved by Rule
9 17 CFR 200.30–3(a)(12). 303 will be used by examiners and other

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Document Created: 2016-04-30 13:34:56
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Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 26274