[Federal Register Volume 84, Number 44 (Wednesday, March 6, 2019)]
[Notices]
[Page 8138]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-04007]
[[Page 8138]]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-0017, OMB Control No. 3235-0017]
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:
Rules 6a-1 and 6a-2, Form 1
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (``PRA'') (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
previously approved collection of information provided for in Rule 6a-1
(17 CFR 240.6a-1), Rule 6a-2 (17 CFR 240.6a-2), and Form 1 (17 CFR
249.1) under the Securities Exchange Act of 1934 (``Exchange Act'' or
``Act'') (15 U.S.C. 78a et seq.).
The Exchange Act sets forth a regulatory scheme for national
securities exchanges. Rule 6a-1 under the Act generally requires an
applicant for initial registration as a national securities exchange to
file an application with the Commission on Form 1. An exchange that
seeks an exemption from registration based on limited trading volume
also must apply for such exemption on Form 1. Rule 6a-2 under the Act
requires registered and exempt exchanges: (1) To amend the Form 1 if
there are any material changes to the information provided in the
initial Form 1; and (2) to submit periodic updates of certain
information provided in the initial Form 1, whether such information
has changed or not. The information required pursuant to Rules 6a-1 and
6a-2 is necessary to enable the Commission to maintain accurate files
regarding the exchange and to exercise its statutory oversight
functions. Without the information submitted pursuant to Rule 6a-1 on
Form 1, the Commission would not be able to determine whether the
respondent has met the criteria for registration (or an exemption from
registration) set forth in Section 6 of the Exchange Act. The
amendments and periodic updates of information submitted pursuant to
Rule 6a-2 are necessary to assist the Commission in determining whether
a national securities exchange or exempt exchange is continuing to
operate in compliance with the Exchange Act.
Initial filings on Form 1 by new exchanges are made on a one-time
basis. The Commission estimates that it will receive approximately one
initial Form 1 filing per year and that each respondent would incur an
average burden of 880 hours to file an initial Form 1 at an average
internal compliance cost per response of approximately $335,984.
Therefore, the Commission estimates that the annual burden for all
respondents to file the initial Form 1 would be 880 hours (one
response/respondent x one respondent x 880 hours/response) and an
internal compliance cost of $335,984 (one response/respondent x one
respondent x $335,984/response).
There currently are 21 entities registered as national securities
exchanges. The Commission estimates that each registered or exempt
exchange files nine amendments or periodic updates to Form 1 per year,
incurring an average burden of 25 hours to comply with Rule 6a-2. The
SEC estimates that the average internal compliance cost for a national
securities exchange per response would be approximately $8,365. The
Commission estimates that the annual burden for all respondents to file
amendments and periodic updates to the Form 1 pursuant to Rule 6a-2 is
4,725 hours (21 respondents x 25 hours/response x 9 responses/
respondent per year) and an internal compliance cost of $1,580,985 (21
respondents x $8,365/response x 9 responses/respondent per year).
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 website: 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) Charles Riddle, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o
Candace Kenner, 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: February 27, 2019.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-04007 Filed 3-5-19; 8:45 am]
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