[Federal Register Volume 81, Number 72 (Thursday, April 14, 2016)]
[Notices]
[Page 22143]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-08552]


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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 FOIA Services, 100 F Street NE., Washington, DC 
20549-2736.

    Extension: Rule 605 of Regulation NMS, SEC File No. 270-488, OMB 
Control No. 3235-0542

    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'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 605 
(17 CFR 242.605) under the Securities Exchange Act of 1934 (15 U.S.C. 
78a et seq.) (``Exchange Act'').
    Rule 605 of Regulation NMS,\1\ 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 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 132 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 132 
market centers subject to Rule 605, the total data collection time 
burden to comply with the monthly reporting requirement is estimated to 
be 9,504 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 $2,978 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 $2,978 estimate, the 
monthly cost to the 132 market centers to retain service providers to 
prepare reports would be $393,096, or an annual cost of approximately 
$4,717,152.
    The collection of information obligation imposed by Rule 605 is 
mandatory. The response will be available to the public and will not be 
kept confidential.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    The public may view background documentation for this information 
collection at the following Web site, 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 email to: 
[email protected]; and (ii) Pamela Dyson, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an 
email to [email protected]. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: April 8, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-08552 Filed 4-13-16; 8:45 am]
BILLING CODE 8011-01-P