[Federal Register Volume 68, Number 236 (Tuesday, December 9, 2003)]
[Notices]
[Pages 68675-68676]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-30499]


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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 11Ac1-1; SEC File No. 270-404; OMB Control No. 
3235-0461.

    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 (``OMB'') a request for extension of the previously approved 
collection of information discussed below.
    Rule 11Ac1-1, Dissemination of Quotations, contains two related 
collections of information necessary to

[[Page 68676]]

disseminate market makers' published quotations to buy and sell 
securities to the public. The first collection of information is found 
in Rule 11Ac1-1(c) 17 CFR 11Ac1-1(c). This reporting requirement 
obligates each ``responsible broker or dealer,'' as defined under the 
rule, to communicate to its exchange or association its best bids, best 
offers, and quotation sizes for any subject security, as defined under 
the rule. The second collection of information is found in Rule 11Ac1-
1(b) 17 CFR 11Ac1-1(b). This reporting requirement obligates each 
exchange and association to make available to quotation vendors for 
dissemination to the public the best bid, best offer, and aggregate 
quotation size for each subject security.\1\ Brokers, dealers, other 
market participants, and members of the public rely on published 
quotation information to determine the best price and market for 
execution of customer orders.
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    \1\ A third requirement under Rule 11Ac1-1, as amended at 17 CFR 
11Ac1-1(c)(5), gives electronic communications networks (``ECNs'') 
the option of reporting to an exchange or association for public 
dissemination, on behalf of their OTC market maker or exchange 
specialist customers, the best priced orders and the full size for 
such orders entered by market makers, to satisfy such market makers' 
reporting obligation under Rule 11Ac1-1(c). Because this reporting 
requirement is an alternative method of meeting the market makers' 
reporting obligation, and because it is directed to nine or fewer 
persons (ECNs), this collection of information is not subject to OMB 
review under the Paperwork Reduction Act.
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    It is anticipated that 721 respondents, consisting of 180 exchange 
specialists and 541 OTC market makers, will make 246,788,005 total 
annual responses pursuant to Rule 11Ac1-1, resulting in an annual 
aggregate burden of approximately 205,486 hours.
    Rule 11Ac1-1 does not impose a retention period for any 
recordkeeping requirements. Compliance with the rule is mandatory and 
the information collected is made available to the public. 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.
    General comments regarding the estimated burden hours should be 
directed to the following persons: (i) The 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 (ii) 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 the Office of 
Management and Budget within 30 days of this notice.

    Dated: December 2, 2003.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 03-30499 Filed 12-8-03; 8:45 am]
BILLING CODE 8010-01-P