[Federal Register Volume 67, Number 82 (Monday, April 29, 2002)]
[Notices]
[Pages 21001-21002]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-10392]


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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. 3501 et seq.), the Securities and Exchange 
Commission

[[Page 21002]]

(``Commission'') has submitted to the Office of Management and Budget a 
request for extension of the previously approved collection of 
information discussed below.
    Rule 11Ab2-1 (Form of Application and Amendments) 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 Securities Exchange Act of 1934 
(``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 that 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 
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 Nasdaq Stock 
Market, Inc. (``Nasdaq''). SIAC and Nasdaq are required to keep the 
information on file with the Commission current, which entails filing a 
form SIP annually to update information. Accordingly, the annual 
reporting and recordkeeping burden for Rule 11Ab2-1 and Form SIP is 400 
hours. This annual reporting and recordkeeping burden does not include 
the burden hours or cost of amending a Form SIP because the Commission 
has already overstated the compliance burdens by assuming that the 
Commission will receive one initial registration pursuant to Rule 
11Ab2-1 on Form SIP a year.
    Rule 11Ab2-1 and Form SIP do not impose a retention period for any 
recordkeeping requirements. Completing and filing Form SIP is mandatory 
before an entity may become an exclusive SIP. Except in cases where 
confidential treatment is requested by an applicant and granted by the 
Commission pursuant to the Freedom of Information Act and the rules of 
the Commission thereunder, information provided in the Form SIP will be 
routinely available for public inspection. Please note that an agency 
may not conduct or sponsor, and a person is not required to respond to, 
a collection of information unless it displays a currently valid 
control number.
    Written comments regarding the above information should be directed 
to the following persons: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10202, New Executive Office 
Building, Washington, DC 20503; and (ii) Michael E. Bartell, Associate 
Executive Director, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. 
Comments must be submitted to OMB within 30 days of this notice.

    Dated: April 22, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-10392 Filed 4-26-02; 8:45 am]
BILLING CODE 8010-01-P