[Federal Register Volume 78, Number 14 (Tuesday, January 22, 2013)]
[Notices]
[Pages 4480-4481]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-01113]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No 270-488, OMB Control No. 3235-0542]


Proposed Collection; Comment Request

Upon Written Request Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0123.

Extension:
    Rule 605 of Regulation NMS.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 605 of Regulation NMS 
(``Rule 605'') (17 CFR 242.605),\1\ under the Securities Exchange Act 
of 1934 (15 U.S.C. 78a, et seq.) (``Exchange Act''). The Commission 
plans to submit this existing collection of information to the Office 
of Management and Budget (``OMB'') for extension and approval. Rule 
605, formerly known as, Rule 11Ac1-5, requires market centers to make 
available to the public monthly order execution reports in electronic 
form. The Commission believes that many market centers retain most, if 
not all, of the underlying raw data necessary to generate these reports 
in electronic format. Once the necessary data is

[[Page 4481]]

collected, market centers could either program their systems to 
generate the statistics and reports, or transfer the data to a service 
provider (such as an independent company in the business of preparing 
such reports or a self-regulatory organization) that would generate the 
statistics and reports.
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    \1\ Regulation NMS, adopted by the Commission in June 2005, 
redesignated the national market system rules previously adopted 
under Section 11A of the Exchange Act. Rule 11Ac1-5 under the 
Exchange Act was redesignated Rule 605 of Regulation NMS. No 
substantive amendments were made to Rule 605 of Regulation NMS. See 
Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 
37496 (June 29, 2005).
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    The collection of information obligations of Rule 605 apply to all 
market centers that receive covered orders in national market system 
securities. The Commission estimates that approximately 366 market 
centers are subject to the collection of information obligations of 
Rule 605. Each of these respondents is required to respond to the 
collection of information on a monthly basis.
    The Commission staff estimates that, on average, Rule 605 causes 
respondents to spend 6 hours per month to collect the data necessary to 
generate the reports, or 72 hours per year. With an estimated 366 
market centers subject to Rule 605, the total data collection time 
burden to comply with the monthly reporting requirement is estimated to 
be 26,352 hours per year.
    Based on discussions with industry sources, the Commission staff 
estimates that an individual market center could retain a service 
provider to prepare a monthly report using the data collected for 
approximately $2978 per month. This per-respondent estimate is based on 
the rate that a market center could expect to obtain if it negotiated 
on an individual basis. Based on the $2978 estimate, the monthly cost 
to the 366 market centers to retain service providers to prepare 
reports would be $1,089,948, or an annual cost of approximately 
$13,079,376 million.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information will 
have practical utility; (b) the accuracy of the Commission's estimate 
of the burden of the 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.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid OMB control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid OMB control number.
    Please direct your written comments to Thomas Bayer, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an email to: [email protected].

    Dated: January 15, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-01113 Filed 1-18-13; 8:45 am]
BILLING CODE 8011-01-P