[Federal Register Volume 61, Number 149 (Thursday, August 1, 1996)]
[Notices]
[Page 40258]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-19568]



[[Page 40258]]

SECURITIES AND EXCHANGE COMMISSION


Request for Public Comment Upon Written Request, Copies Available 
From: Securities and Exchange Commission, Office of Filings and 
Information Services, Washington, D.C. 20549

Existing Collection of Information: Rule 10a-1, SEC File No. 270-413, 
OMB Control No. 3235-new

    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 10a-1 (17 CFR 240.10a-1) under the Securities Exchange Act of 
1934 (``Exchange Act'') is intended to limit short selling of a 
security in a declining market, by requiring, in effect, that each 
successive lower price be established by a long seller. The price at 
which short sales may be effected is established by reference to the 
last sale price reported in the consolidated system or on a particular 
marketplace. Rule 10a-1 requires each broker or dealer that effects any 
sell order for a security registered on, or admitted to unlisted 
trading privileges, on a national securities exchange to mark the 
relevant order ticket either ``long'' or ``short.''
    There are approximately 1,500 brokers and dealers registered with 
the national securities exchanges. The Commission has considered each 
of these respondents for the purposes of calculating the reporting 
burden under Rule 10a-1. Each of these approximately 1,500 registered 
broker-dealers effects sell orders for securities registered on, or 
admitted to unlisted trading privileges, on a national securities 
exchange. In addition, each respondent makes an estimated 55,663 annual 
responses, for an aggregate total of 83,493,861 responses per year. 
Each response takes approximately .000143 hours to complete. Thus, the 
total compliance burden per year is 11,902 burden hours.
    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 calrity 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 20549.

    Dated: July 22, 1996.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-19568 Filed 7-31-96; 8:45 am]
BILLING CODE 8010-01-M