[Federal Register Volume 69, Number 159 (Wednesday, August 18, 2004)]
[Notices]
[Page 51338]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-18911]



[[Page 51338]]

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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 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'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
    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. 
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 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).
    Compliance with Rule 302 is mandatory. The information required by 
the Rule 302 is available only to the examination of the Commission 
staff, state securities authorities and the SROs. Subject to the 
provisions of the Freedom of Information Act, 5 U.S.C. 522 (``FOIA''), 
and the Commission's rules thereunder (17 CFR 200.80(b)(4)(iii)), the 
Commission does not generally publish or make available information 
contained in any reports, summaries, analyses, letters, or memoranda 
arising out of, in anticipation of, or in connection with an 
examination or inspection of the books and records of any person or any 
other investigation.
    Regulation ATS requires alternative trading systems to preserve any 
records, for at least three years, made in the process of complying 
with the systems capacity, integrity and security requirements.
    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) the Desk Officer for the SEC, by sending 
an email 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 Management and 
Budget within 30 days of this notice.

    Dated: August 13, 2004.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-18911 Filed 8-17-04; 8:45 am]
BILLING CODE 8010-01-P