Submission for OMB Review; Comment Request

[Federal Register Volume 61, Number 105 (Thursday, May 30, 1996)]
[Notices]
[Pages 27109-27110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-13458]



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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.

    Extension:
    Rule 11Ab2-1 and Form SIP; SEC File No. 270-23; OMB Control No. 
3235-0043.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. Secs. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget requests for approval of extension on the following rule and 
form: Rule 11Ab2-1 and Form SIP.
    Rule 11Ab2-1 and Form SIP establish the procedures by which a 
Securities Information Processor (``SIP'') files and amends its SIP 
registration form. The information filed with the Commission pursuant 
to Rule 11Ab2-1 and Form SIP is designed to provide the Commission with 
the information necessary to make the required findings under the Act 
before granting the SIP's application for registration. In addition, 
the requirement that a SIP file an amendment to correct any inaccurate 
information is designed to assure that the Commission has current, 
accurate information with respect to the SIP. This information is also 
made available to members of the public.
    Only exclusive SIPs are required to register with the Commission. 
An exclusive SIP is a SIP which engages on an exclusive basis on behalf 
of any national securities exchange or registered securities 
association, or any national securities exchange or

[[Page 27110]]

registered securities association which engages on an exclusive basis 
on its own behalf, in collecting, processing, or preparing for 
distribution or publication, any information with respect to (i) 
transactions or quotations on or effected or made by means of any 
facility of such exchange or (ii) quotations distributed or published 
by means of any electronic quotation system operated by such 
association. The federal securities laws require that before the 
Commission may approve the registration of an exclusive SIP, it must 
make certain mandatory findings. It takes a SIP applicant approximately 
400 hours to prepare documents which include sufficient information to 
enable the Commission to make those findings. Currently, there are only 
two exclusive SIPs registered with the Commission; The Securities 
Information Automation Corporation (``SIAC'') and the National 
Association of Securities Dealers, Inc. (``NASD''). SIAC and the NASD 
are required to keep the information on file with the Commission 
current, which entails filing a form SIP annually to update 
information.
    General comments regarding the estimated burden hours should be 
directed to the Desk Officer for the Securities and Exchange Commission 
at the address below. Any comments concerning the accuracy of the 
estimated average burden hours for compliance with Commission rules and 
forms should be directed to Michael E. Bartell, Associate Executive 
Director, Office of Information Technology, Securities and Exchange 
Commission, 450 Fifth Street, N.W., Washington, D.C. 20549 and Desk 
Officer for the Securities and Exchange Commission, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
Room 3208, New Executive Office Building, Washington, D.C. 20503.

    Dated: May 22, 1996.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-13458 Filed 5-29-96; 8:45 am]
BILLING CODE 8010-01-M