[Federal Register Volume 69, Number 114 (Tuesday, June 15, 2004)]
[Notices]
[Page 33432]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-13417]


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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 302; SEC File No. 270-453; OMB Control No. 3235-0510.

    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.
    Regulation ATS provides a regulatory structure that directly 
addresses issues related to alternative trading systems' role in the 
marketplace. Regulation ATS allows alternative trading systems to 
choose between two regulatory structures. Alternative trading systems 
have the choice between registering as broker-dealers and complying 
with Regulation ATS or registering as national securities exchanges. 
Regulation ATS provides the regulatory framework for those alternative 
trading systems that choose to be regulated as broker-dealers. Rule 302 
of Regulation ATS describes the recordkeeping requirements for 
alternative trading systems that are not national securities exchanges. 
Under Rule 302, alternative trading systems are required to make a 
record of subscribers to the alternative trading system, daily 
summaries of trading in the alternative trading system and time-
sequenced records of order information in the alternative trading 
system.
    The information required to be collected under the Rule should 
increase the abilities of the Commission, state securities regulatory 
authorities, and the SROs to ensure that alternative trading systems 
are in compliance with Regulation ATS as well as other rules and 
regulations of the Commission and the SROs. If the information is not 
collected or is collected less frequently, the Commission would be 
severely limited in its ability to comply with its statutory 
obligations, provide for the protection of investors and promote the 
maintenance of fair and orderly markets.
    Respondents consist of alternative trading systems that choose to 
register as broker-dealers and comply with the requirements of 
Regulation ATS. The Commission estimates that there are currently 
approximately 50 respondents.
    An estimated 50 respondents will spend approximately 1,800 hours 
per year to comply with the recordkeeping requirements of Rule 302. At 
an average cost per burden hour of $86.54, the resultant total related 
cost of compliance for these respondents is $155,772.00 per year (1,800 
burden hours multiplied by $86.54/hour).
    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 estimate of the burden of the 
proposed collection of information; (c) ways to enhance the quality, 
utility, and clarity of the information 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 R. Corey Booth, Director/Chief 
Financial Officer, Office of Information Technology, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549.

    Dated: June 7, 2004.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 04-13417 Filed 6-14-04; 8:45 am]
BILLING CODE 8010-01-P