[Federal Register Volume 67, Number 207 (Friday, October 25, 2002)]
[Notices]
[Pages 65614-65615]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-27224]


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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 11a1-1(T), SEC File No. 270-428, OMB Control No. 
3235-0478.

    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.
    [sbull] Rule 11a1-1(T)--Transaction Yielding Priority, Parity, and 
Precedence
    On January 27, 1976, the Commission adopted Rule 11a1-1(T) under 
the Securities Exchange Act of 1934 (``Exchange Act'') to exempt 
transactions of exchange members for their own accounts that would 
otherwise be prohibited under Section 11(a) of the Exchange Act. The 
rule provides that a member's proprietary order may be executed on the 
exchange of which the trader is a member, if, among other things: (1) 
The member discloses that a bid or offer for its account is for its 
account to any member with whom such bid or offer is placed or to whom 
it is communicated; (2) any such member through whom that bid or offer 
is communicated discloses to others participating in effecting the 
order that it is for account of a member; and (3) immediately before 
executing the order, a member (other than a specialist in such 
security) presenting any order for the account of a member on the 
exchange clearly announces or otherwise indicates to the specialist and 
to other members then present that he is presenting an order for the 
account of a member.
    Without these requirements, it would not be possible for the 
Commission to monitor its mandate under the Exchange Act to promote 
fair and orderly markets and ensure that exchange members have, as the 
principle purpose of their exchange memberships, the conduct of a 
public securities business.
    There are approximately 1,000 respondents that require an aggregate 
total of 333 hours to comply with this rule. Each of these 
approximately 1,000 respondents makes an estimated 20 annual responses, 
for an aggregate of 20,000 responses per year. Each response takes 
approximately 1 minute to complete. Thus, the total compliance burden 
per year is 333 hours (20,000 minutes/60 minutes per hour = 333 hours). 
The approximate cost per hour is $100, resulting in a total cost of 
compliance for the respondents of $33,333 (333 hours @ $100).
    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 estimates 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.
    Please direct your written comments to Kenneth A. Fogash, Acting 
Associate Executive Director for the Office of Information Technology, 
Securities and Exchange Commission, 450 5th Street, NW., Washington, DC 
20549.


[[Page 65615]]


    Dated: October 18, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-27224 Filed 10-24-02; 8:45 am]
BILLING CODE 8010-01-P