[Federal Register Volume 66, Number 63 (Monday, April 2, 2001)]
[Notices]
[Page 17588]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-8024]


=======================================================================
-----------------------------------------------------------------------

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, 
DC 20549.
Extension:
    Rule 19b-5 and From PILOT; SEC File No. 270-448; OMB Control No. 
3235-0507

    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 soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Rule 19b-5 provides a temporary exemption from the rule-filing 
requirements of section 19(b) of the Securities Exchange Act of 1934 
(``Act'') to self-regulatory organizations (``SROs'') wishing to 
establish and operate pilot trading systems. Rule 19b-5 permits an SRO 
to develop a pilot trading system and to begin operation of such system 
shortly after submitting an initial report on Form PILOT to the 
Commission. During operation of the pilot trading system, the SRO must 
submit quarterly reports of the system's operation to the Commission, 
as well as timely amendments describing any material changes to the 
system. After two years of operating such pilot trading system under 
the exemption afforded by Rule 19b-5, the SRO must submit a rule filing 
pursuant to section 19(b)(2) of the Act in order to obtain permanent 
approval of the pilot trading system from the Commission.
    The collection of information is designed to allow the Commission 
to maintain an accurate record of all new pilot trading systems 
operated by SROs and to determine whether an SRO has properly availed 
itself of the exemption afforded by Rule 19b-5.
    The respondents to the collection of information are SROs, as 
defined by the Act, including national securities exchanges and 
national securities associations.
    Ten respondents file an average total of 6 initial reports, 24 
quarterly reports, and 12 amendments per year, with an estimated total 
annual response burden of 252 hours. At an average hourly cost of 
$51.71, the aggregate related cost of compliance with Rule 19b-5 for 
all respondents is $13,032 per year (252 burden hours multiplied by 
$51.71/hour = $13,032).
    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 Fifth Street, NW., Washington, DC 20549.

    Dated: March 27, 2001.
Jonathan G. Katz,
Secretary.
[FR Doc. 01-8024 Filed 3-30-01; 8:45 am]
BILLING CODE 8010-01-M