[Federal Register Volume 67, Number 232 (Tuesday, December 3, 2002)]
[Notices]
[Pages 71998-71999]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-30529]


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

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 12f-1, SEC File No. 270-139, OMB Control No. 3235-0128
    Rule 12f-3, SEC File No. 270-141, OMB Control No. 3235-0249
    Rule 24b-1, SEC File No. 270-205, OMB Control No. 3235-0194

    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.
    [sbull] Applications for permission to reinstate unlisted trading 
privileges
    Rule 12f-1, originally adopted in 1934 pursuant to Sections 12(f) 
and 23(a) of the Securities Exchange Act of 1934 (the ``Act'') and as 
modified in 1995, sets forth the information which an exchange must 
include in an application to reinstate its ability to extend unlisted 
trading privileges to any security for which such unlisted trading 
privileges have been suspended by the Commission, pursuant to Section 
12(f)(2)(A) of the Act. An application must provide the name of the 
issuer, the title of the security, the name of each national securities 
exchange, if any, on which the security is listed or admitted to 
unlisted trading privileges, whether transaction information concerning 
the security is reported in the consolidated transaction reporting 
system contemplated by Rule 11Aa3-1 under the Act, and any other 
pertinent information. Rule 12f-1 further requires a national 
securities exchange seeking to reinstate its ability to extend unlisted 
trading privileges to a security to indicate that it has provided a 
copy of such application to the issuer of the security, as well as to 
any other national securities exchange on which the security is listed 
or admitted to unlisted trading privileges.
    The information required by Rule 12f-1 enables the Commission to 
make the necessary findings under the Act prior to granting 
applications to reinstate unlisted trading privileges. This information 
is also made available to members of the public who may wish to comment 
upon the applications. Without the rule, the Commission would be unable 
to fulfill these statutory responsibilities.
    There are currently eight national securities exchanges subject to 
Rule 12f-1. The burden of complying with Rule 12f-1 arises when a 
potential respondent seeks to reinstate its ability to extend unlisted 
trading privileges to any security for which unlisted trading 
privileges have been suspended by the Commission, pursuant to Section 
12(f)(2)(A) of the Act. The staff estimates that each application would 
require approximately one hour to complete. Thus each potential 
respondent would incur on average one burden hour in complying with the 
rule.
    The Commission staff estimates that there could be as many as eight 
responses annually and that each respondent's related cost of 
compliance with Rule 12f-1 would be $53.55, or, the cost of one hour of 
professional work needed to complete the application. The total annual 
related reporting cost for all potential respondents, therefore, is 
$428.40 (8 responses x $53.55/response).
    [sbull] Termination or Suspension of Unlisted Trading Privileges
    Rule 12f-3, which was originally adopted in 1934 pursuant to 
Sections 12(f) and 23(a) of the Act, as modified in 1995, prescribes 
the information which must be included in applications for and notices 
of termination or suspension of unlisted trading privileges for a 
security as contemplated in Section 12(f)(4) of the Act. An application 
must provide, among other things, the name of the applicant; a brief 
statement of the applicant's interest in the question of termination or 
suspension of such unlisted trading privileges; the title of the 
security; the name of the issuer; certain information regarding the 
size of the class of security and its recent trading history; and a 
statement indicating that the applicant has provided a copy of such 
application to the exchange from which the suspension or termination of 
unlisted trading privileges are sought, and to any other exchange on 
which the security is listed or admitted to unlisted trading 
privileges.
    The information required to be included in applications submitted 
pursuant to Rule 12f-3, is intended to provide the Commission with 
sufficient information to make the necessary findings under the Act to 
terminate or suspend by order the unlisted trading privileges granted a 
security on a national securities exchange. Without the rule, the 
Commission would be

[[Page 71999]]

unable to fulfill these statutory responsibilities.
    The burden of complying with Rule 12f-3 arises when a potential 
respondent, having a demonstrable bona fide interest in the question of 
termination or suspension of the unlisted trading privileges of a 
security, determines to seek such termination or suspension. The staff 
estimates that each such application to terminate or suspend unlisted 
trading privileges requires approximately one hour to complete. Thus 
each potential respondent would incur on average one burden hour in 
complying with the rule.
    The Commission staff estimates that there could be as many as ten 
responses annually and that each respondent's related cost of 
compliance with Rule 12f-3 would be $53.55, or, the cost of one hour of 
professional work needed to complete the application. The total annual 
related reporting cost for all potential respondents, therefore, is 
$535.50 (10 responses x $53.55/response).
    [sbull] Rule 24b-1: Documents To Be Kept Public By Exchanges
    Rule 24b-1 requires a national securities exchange to keep and make 
available for public inspection a copy of its registration statement 
and exhibits filed with the Commission, along with any amendments 
thereto. Implementing the requirements of Section 24(a), the rule 
requires that upon Commission action granting an exchange's application 
for registration or exemption from registration as a national 
securities exchange, the exchange must make available for public 
inspection at its offices during reasonable business hours a copy of 
the registration statement and exhibits filed with the Commission 
(along with any amendments thereto). However, the rule exempts those 
portions of this information to which the exchange has filed with the 
Commission an objection to disclosure and when the Commission has not 
overruled the objection. While the rule does not specify a retention 
period, the exchanges generally maintain this information for five 
years.
    There are nine national securities exchanges that spend 
approximately one half hour each complying with this rule, for an 
aggregate total compliance burden of four hours per year. The staff 
estimates that the average cost per respondent is $62.58 per year, 
calculated as the costs of copying ($13.41) plus storage ($49.17), 
resulting in a total cost of compliance for the respondents of $563.22.
    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 Commission'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 Kenneth A. Fogash, Acting Associate 
Executive Director/CIO, Office of Information Technology, Securities 
and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549.

    Dated: November 22, 2002.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-30529 Filed 12-2-02; 8:45 am]
BILLING CODE 8010-01-P