[Federal Register Volume 66, Number 72 (Friday, April 13, 2001)]
[Notices]
[Pages 19249-19250]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-9167]


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

SECURITIES AND EXCHANGE COMMISSION

[Extension: Form 1, Rules 6a-1 and 6a-2, Rule 6a-3; SEC File No. 270-
18; SEC File No. 270-15; OMB Control No. 3235-0017; OMB Control No. 
3235-0021]


Proposed Collection; Comment Request

    Upon Written Request, Copies Available From: Securities and 
Exchange Commission, Office of Filings and Information Services, 
Washington, DC 20549.

    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 collections of 
information summarized below. The Commission plans to submit these 
existing collections of information to the Office of Management and 
Budget for extension and approval.
    The Securities Exchange Act of 1934 (``Act'') sets forth a 
regulatory scheme for national securities exchanges. Rule 6a-1 under 
the Act \1\ generally requires an applicant, for initial registration 
as a national securities exchange, to file an application with the 
Commission on Form 1. An exchange that seeks an exemption from 
registration based on limited trading volume also must apply for such 
exemption on Form 1. Rule 6a-2 under the Act \2\ requires registered 
and exempt exchanges: (1) To amend the Form 1 if there are any material 
changes to the information provided in the initial Form 1; and (2) to 
submit periodic updates of certain information provided in the initial 
Form 1, whether such information has changed or not. The information 
required pursuant to Rules 6a-1 and 6a-2 is necessary to enable the 
Commission to maintain accurate files regarding the exchange and to 
exercise its statutory oversight functions. Without the information 
submitted pursuant to Rule 6a-1 of Form 1, the Commission would not be 
able to determine whether the respondent met the criteria for 
registration or exemption set forth in Sections 6 and 19 of the Act. 
Without the amendments and periodic updates of information submitted 
pursuant to Rule 6a-2, the Commission would have substantial difficulty 
determining whether a national securities exchange or exempt exchange 
was continuing to operate in compliance with the Act.
---------------------------------------------------------------------------

    \1\ 17 CFR 240.6a-1
    \2\ 17 CFR 240.6a-2.
---------------------------------------------------------------------------

    The respondents to the collection of information are entities that 
seek registration as a national securities exchange or that seek 
exemption from registration based on limited trading volume. After the 
initial filing of Form 1, both registered and exempt exchanges are 
subject to ongoing informational requirements.
    Initial filings on Form 1 by new exchanges are made on a one-time 
basis. The Commission estimates that it will receive approximately 
three initial Form 1 filings per year and that each respondent would 
incur an average burden of 47 hours to file an initial Form 1 at an 
average cost per response of approximately $4517. Therefore, the 
Commission estimates that the annual burden for all respondents to file 
the initial Form 1 would be 141 hours (one response/respondent x three 
respondents x 47 hours/response) and $13,551 (one response/respondent x 
three respondents x $4517/response).
    There currently are nine entities registered as national securities 
exchanges and two exempt exchanges. The Commission estimates that each 
registered or exempt exchange files one amendment or periodic update to 
Form 1 per year, incurring an average burden of 25 hours to comply with 
Rule 6a-2. The Commission estimates that the annual burden for all 
respondents to file amendments and periodic updates to the Form 1 
pursuant to Rule 6a-2 is 275

[[Page 19250]]

hours (11 respondents x 25 hours/ response x one response/respondent 
per year) and $25,630 (11 respondents x $2330/response x one response/
respondent per year).
    Section 6 of the Act \3\ sets out a framework for the registration 
and regulation of national securities exchanges. Under Commission Rule 
6a-3,\4\ one of the rules that implements Section 6, a national 
securities exchange (or an exchange exempted from registration as a 
national securities exchange based on limited trading volume) must 
provide certain supplemental information to the Commission, including 
any material (including notices, circulars, bulletins, lists, and 
periodicals) issued or made generally available to members of, or 
participants or subscribers to, the exchange. Rule 6a-3 also requires 
the exchanges to file monthly reports that set forth the volume and 
aggregate dollar amount of securities sold on the exchange each month. 
The information required to be filed with the Commission pursuant to 
Rule 6a-3 is designed to enable the Commission to carry out its 
statutorily mandated oversight functions and to ensure that registered 
and exempt exchanges continue to be in compliance with the Act.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f.
    \4\ 17 CFR 240.6a-3.
---------------------------------------------------------------------------

    The respondents to the collection of information are national 
securities exchanges and exchanges that are exempt from registration 
based on limited trading volume.
    The Commission estimates that each respondent makes approximately 
25 such filings on an annual basis at an average cost of approximately 
$21 per response. Currently, 11 respondents (nine national securities 
exchanges and two exempt exchanges) are subject to the collection of 
information requirements of rule 6a-3. The Commission estimates that 
the total burden for all respondents is 137.5 hours (25 filings/
respondent per year x 0.5 hours/filing x 11 respondents) and $5775 
($21/response x 25 responses/respondent per year x 11 respondents) per 
year.
    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 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: April 6, 2001.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-9167 Filed 4-12-01; 8:45 am]
BILLING CODE 8010-01-M