[Federal Register Volume 61, Number 60 (Wednesday, March 27, 1996)]
[Notices]
[Pages 13540-13541]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-7393]



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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; 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. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is publishing the following summary of 
collection for public comment.
    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 exclussive 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 registered 
securities association which engages on an exclusive basis on its own 
behalf, in collecting, processing, or preparing for distribution or

[[Page 13541]]
publication, any information with respect to (i) transactions or 
quotations on or effective 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 NASD are required to keep the 
information on file with the Commission current, which entails filing a 
form SIP annually to update information.
    Written comments are invited on: (a) whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency'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.
    Direct your written comments to Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 5th Street, N.W., Washington, DC 205489.

    Dated: March 19, 1996.
Jonathan G. Katz,
Secretary.
[FR Doc. 96-7393 Filed 3-26-96; 8:45 am]
BILLING CODE 8010-01-M