[Federal Register Volume 69, Number 134 (Wednesday, July 14, 2004)]
[Notices]
[Pages 42226-42227]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-16013]


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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: Form 1, Rules 6a-1 and 6a-2; SEC File No. 270-0018; OMB 
Control No. 3235-0017.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995,\1\ the Securities and Exchange Commission (``Commission'') has 
submitted to the Office of Management and Budget a request for 
extension of the previously approved collection of information 
discussed below.
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    \1\ 44 U.S.C. 3501 et seq.
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    The Securities Exchange Act of 1934 (``Act'') sets forth a 
regulatory scheme for national securities exchanges. Rule 6a-1 under 
the Act \2\ generally requires an applicant for initial registration as 
a national securities exchange to file an application with the 
Commission on Form 1. An exchange that seeks an exemption from 
registration based on limited trading volume also must apply for such 
exemption on Form 1. Rule 6a-2 under the Act \3\ requires registered 
and exempt exchanges: (1) to amend the Form 1 if there are any material 
changes to the information provided in the initial Form 1; and (2) to 
submit periodic updates of certain information provided in the initial 
Form 1, whether such information has changed or not. The information 
required pursuant to Rules 6a-1 and 6a-2 is necessary to enable the 
Commission to maintain accurate files regarding the exchange and to 
exercise its statutory oversight functions. Without the information 
submitted pursuant to Rule 6a-1 on Form 1, the Commission would not be 
able to determine whether the respondent met the criteria for 
registration or exemption set forth in sections 6 and 19 of the Act. 
Without the amendments and periodic updates of information submitted 
pursuant to Rule 6a-2, the Commission would have substantial difficulty 
determining whether a national securities exchange or exempt exchange 
was continuing to operate in compliance with the Act.
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    \2\ 17 CFR 240.6a-1.
    \3\ 17 CFR 240.6a-2.
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    The respondents to the collection of information are entities that 
seek registration as a national securities exchange or that seek 
exemption from registration based on limited trading volume. After the 
initial filing of Form 1, both registered and exempt exchanges are 
subject to ongoing informational requirements.
    Initial filings on Form 1 by new exchanges are made on a one-time 
basis. The Commission estimates that it will receive approximately 
three initial Form 1 filings per year and that each respondent would 
incur an average burden of 47 hours to file an initial Form 1 at an 
average cost per response of approximately $4517. Therefore, the 
Commission estimates that the annual burden for all respondents to file 
the initial Form 1 would be 141 hours (one response/respondent x three 
respondents x 47 hours/response) and $13,551 (one response/respondent x 
three respondents x $4517/response).
    There currently are nine entities registered as national securities 
exchanges and two exempt exchanges. The Commission estimates that each 
registered or exempt exchange files one amendment or periodic update to 
Form 1 per year, incurring an average burden of 25 hours to comply with 
Rule 6a-2. The Commission estimates that the annual burden for all 
respondents to file amendments and periodic updates to the Form 1 
pursuant to Rule 6a-2 is 275 hours (11 respondents x 25 hours/response 
x one response/respondent per year) and $25,630 (11 respondents x 
$2330/response x one response/respondent per year).
    Compliance with Rules 6a-1 and 6a-2 and Form 1 is mandatory for 
entities seeking to register as a national securities exchange or 
seeking an exemption from registration based on limited trading volume. 
Information received in response to Rules 6a-1 and 6a-2 and Form 1 
shall not be kept confidential; the information collected is public 
information. As set forth in Rule 17a-1 under the Act,\4\ a national 
securities exchange generally is required to retain records of the 
collection of information for at least five years.
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    \4\ 17 CFR 240.17a-1.
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    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 by sending an e-mail to: [email protected], and (b) R. Corey Booth, Director/Chief Information 
Officer, Office of Information Technology, Securities and Exchange 
Commission, 450 Fifth Street, NW., Washington, DC 20549. Comments must 
be submitted to the Office of

[[Page 42227]]

Management and Budget within 30 days of this notice.

    Dated: July 7, 2004.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-16013 Filed 7-13-04; 8:45 am]
BILLING CODE 8010-01-P