81 FR 26294 - Proposed Collection; Comment Request

SECURITIES AND EXCHANGE COMMISSION

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

[Federal Register Volume 81, Number 84 (Monday, May 2, 2016)]
[Notices]
[Pages 26294-26295]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-10110]


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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 302 SEC File No. 270-453, OMB Control No. 3235-0510

    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 302 (17 CFR 
242.302) 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 302 of Regulation ATS (17 
CFR 242.302) describes the recordkeeping requirements for ATSs. Under 
Rule 302, ATSs are required to make a record of subscribers to the ATS, 
daily summaries of trading in the ATS, and time-sequenced records of 
order information in the ATS.
    The information required to be collected under Rule 302 should 
increase the abilities 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. If the information is not collected or collected less 
frequently, the 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. These respondents will spend approximately 
3,780 hours per year (84 respondents at 45 burden hours/respondent) to 
comply with the recordkeeping requirements of Rule 302. At an average 
cost per burden hour of $65, the resultant total related internal cost 
of compliance for these respondents is $245,700 per year (3,780 burden 
hours multiplied by $65/hour).
    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.

[[Page 26295]]

    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 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 E. Errett,
Deputy Secretary.
[FR Doc. 2016-10110 Filed 4-29-16; 8:45 am]
 BILLING CODE 8011-01-P