[Federal Register Volume 70, Number 121 (Friday, June 24, 2005)]
[Notices]
[Pages 36665-36666]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-3286]


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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 11Ab2-1, SEC File No. 270-23, OMB Control No. 3235-0043; 
Form SIP, SEC File No. 270-23, OMB Control No. 3235-0043.

    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.
    Rule 11Ab2-1 (Form of Application and Amendments) and Form SIP 
establish the procedures by which a Securities Information Processor 
(``SIP'') files and amends its SIP registration form. The information 
filed with the Commission pursuant to Rule 11Ab2-1 and Form SIP is 
designed to provide the Commission with the information necessary to 
make the required findings under the Act before granting the SIP's 
application for registration. In addition, the requirement that a SIP 
file an amendment to correct any inaccurate information is designed to 
assure that the Commission has current, accurate information with 
respect to the SIP. This information is also made available to members 
of the public.
    Only exclusive SIPs are required to register with the Commission. 
An exclusive SIP is a SIP that engages on an exclusive basis on behalf 
of any national securities exchange or registered securities 
association, or any national securities exchange or registered 
securities association which engages on an exclusive basis on its own 
behalf, in collecting, processing, or preparing for distribution or 
publication, any information with respect to (i) transactions or 
quotations on or effected or made by means of any facility of such 
exchange or (ii) quotations distributed or published by means of any 
electronic quotation system operated by such association. The federal 
securities laws require that before the Commission may approve the 
registration of an exclusive SIP, it must make certain mandatory 
findings. It takes a SIP applicant approximately 400 hours to prepare 
documents which include sufficient information to enable the Commission 
to make those findings. Currently, there are only two exclusive SIPs 
registered with the Commission; The Securities Information Automation 
Corporation (``SIAC'') and The Nasdaq Stock Market, Inc. (``Nasdaq''). 
SIAC and Nasdaq are required to keep the information on file with the 
Commission current, which entails filing a form SIP annually to update 
information. Accordingly, the annual reporting and recordkeeping burden 
for Rule 11Ab2-1 and Form SIP is 400 hours. This annual reporting and 
recordkeeping burden does not include the burden hours or cost of 
amending a Form SIP because the Commission has already overstated the 
compliance burdens by assuming that the Commission will receive one 
initial registration pursuant to Rule 11Ab2-1 on Form SIP a year.
    Rule 11Ab2-1 and Form SIP do not impose a retention period for any 
recordkeeping requirements. Completing and filing Form SIP is mandatory 
before an entity may become an exclusive SIP. Except in cases where 
confidential treatment is requested by an applicant and granted by the 
Commission pursuant to the Freedom of Information Act and the rules of 
the Commission thereunder, information provided in the Form SIP will be 
routinely available for public inspection. 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.
    Written comments regarding the above information should be directed 
to the following persons: (1) The Desk Officer for the Securities and 
Exchange

[[Page 36666]]

Commission, Office of Information and Regulatory Affairs, Office of 
Management and Budget, Room 10102, New Executive Office Building, 
Washington, DC, 20503 or by sending an e-mail to: [email protected]; and (ii) R. Corey Booth, Director/Chief 
Information Officer, 100 F Street, NE., Washington, DC 20549. Comments 
must be submitted to OMB within 30 days of this notice.

    Dated: June 16, 2005.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. E5-3286 Filed 6-23-05; 8:45 am]
BILLING CODE 8010-01-P