[Federal Register Volume 68, Number 28 (Tuesday, February 11, 2003)]
[Notices]
[Pages 6973-6974]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-3317]


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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 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'') has submitted to the Office of Management 
and Budget requests for extension of the previously approved 
collections of information discussed below.
    [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).
    Compliance with Rule 12f-1 is mandatory. Rule 12f-1 does not have a 
record retention requirement per se. However, responses made pursuant 
to Rule 12f-1 are subject to the recordkeeping requirements of Rules 
17a-3 and 17a-4 of the Act. Information received in response to Rule 
12f-1 shall not be kept confidential; the information collected is 
public information.
    [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, and 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 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

[[Page 6974]]

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).
    Compliance with the application requirements of Rule 12f-3 is 
mandatory, though the filing of such applications is undertaken 
voluntarily. Rule 12f-3 does not have a record retention requirement 
per se. However, responses made pursuant to Rule 12f-3 are subject to 
the recordkeeping requirements of Rules 17a-3 and 17a-4 of the Act. 
Information received in response to Rule 12f-3 shall not be kept 
confidential; the information collected is public information.
    [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.
    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: (a) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503; and (b) Kenneth A. Fogash, Acting 
Associate Executive Director/CIO, Office of Information Technology, 
Securities and Exchange Commission, 450 Fifth Street, NW, Washington, 
DC 20549. Comments must be submitted to Office of Management and Budget 
within 30 days of this notice.

    Dated: January 29, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-3317 Filed 2-10-03; 8:45 am]
BILLING CODE 8010-01-P