[Federal Register Volume 76, Number 103 (Friday, May 27, 2011)]
[Notices]
[Page 30984]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-13117]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.
Extension:
    Rule 609 and Form SIP; OMB Control No. 3235-0043; SEC File No. 270-
23.
    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 approval of extension of the 
existing collection of information provided for the following rule: 
Rule 609 (17 CFR 249.609) (formerly Rule 11Ab2-1) and Form SIP (17 CFR 
249.1001).
    On September 23, 1975, the Commission adopted Rule 11Ab2-1,\1\ 
which under Regulation NMS has been redesignated as Rule 609 and Form 
SIP under the Securities Exchange Act of 1934 (``Act'') (15 U.S.C. 78a 
et seq.) to establish the procedures by which a Securities Information 
Processor (``SIP'') files and amends its SIP registration statement.\2\ 
The information filed with the Commission pursuant to Rule 609 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.
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    \1\ See Securities Exchange Act Release No. 11673 (September 23, 
1975), 40 FR 45422 (October 2, 1975).
    \2\ See Securities Exchange Act Release No. 51808 (June 9, 
2005), 70 FR 37496 (June 29, 2005).
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    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 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 Industry 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 609 and Form SIP is 400 hours; the burden of information 
collection is estimated to involve approximately 1 respondent 
application for registration making 1 response per year. 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 609 on Form SIP a 
year.
    Rule 609 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.
    Background documentation for this information collection may be 
viewed at the following link, http://www.reginfo.gov. Comments should 
be directed to (i) 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 or by sending an e-mail to: [email protected]; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an e-mail to: 
[email protected]. Comments must be submitted within 30 days of this 
notice.

    May 22, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-13117 Filed 5-26-11; 8:45 am]
BILLING CODE 8011-01-P