    [Federal Register Volume 85, Number 168 (Friday, August 28, 2020)]
    [Notices]
    [Pages 53426-53427]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 2020-18402]

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    SECURITIES AND EXCHANGE COMMISSION

    [SEC File No. 270-824; OMB Control No. 3235-0500 [Corrected collection
    number]]

    Proposed Collection; 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 608

        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'') is soliciting comments on the
    existing collection of information provided for in Rule 608 (17 CFR
    242.608) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et
    seq.). The Commission plans to submit this existing collection of
    information to the Office of Management and Budget (``OMB'') for
    extension and approval.
        Rule 608 specifies procedures for filing or amending national
    market system plans (``NMS Plans''). Self-regulatory organizations
    (``SROs'') filing a new NMS Plan must submit the text of the NMS Plan
    to the Commission, along with a statement of purpose, and, if
    applicable, specified supporting materials that may include: (1) A copy
    of all governing or constituent documents, (2) a description of the
    manner in which the NMS Plan, and any facility or procedure
    contemplated by the NMS Plan, will be implemented, (3) a listing of all
    significant phases of development and implementation contemplated by
    the NMS Plan, including a projected completion date for each phase, (4)
    an analysis of the competitive impact of implementing the NMS Plan, (5)
    a description of any written agreements or understandings between or
    among plan participants or sponsors relating to interpretations of the
    NMS Plan or conditions for becoming a plan participant or sponsor, and
    (6) a description of the manner in which any facility contemplated by
    the NMS Plan shall be operated. Participants or sponsors to the NMS
    Plan must ensure that a current and complete version of the NMS Plan is
    posted on a designated website or a plan website after being notified
    by the Commission that the NMS Plan is effective. Each plan participant
    or sponsor must also provide a link on its own website to the current
    website to the current version of the NMS Plan.
        The Commission estimates that the creation and submission of a new
    NMS Plan and any related materials would result in an average aggregate
    burden of approximately 850 hours per year (25 SROs x 34 hours = 850
    hours). The Commission further estimates an average aggregate burden of
    approximately 125 hours per year (25 SROs x 5 hours = 125 hours), for
    each of the SROs to keep a current and complete version of the NMS Plan
    posted on a designated website or a plan website, and to provide a link
    to the current version of the NMS Plan on its own website. In addition,
    the Commission estimates that the creation of a new NMS Plan and any
    related materials would result in an average aggregate cost of
    approximately $150,000 per year (25 SROs x $6,000 = $150,000).
        SROs proposing to amend an existing NMS Plan must submit the text
    of the amendment to the Commission, along with a statement of purpose,
    and, if applicable, the supporting materials described above, as well
    as a statement that the amendment has been approved by the plan
    participants or sponsors in accordance with the terms of the NMS Plan.
    Participants or sponsors to the NMS Plan must ensure that any proposed
    amendments are posted to a designated website or a plan website after
    filing the amendments with the Commission and that those websites are
    updated to reflect the current status of the amendment and the NMS
    Plan. Each plan participant or sponsor must also provide a link on its
    own website to the current version of the NMS Plan. The Commission
    estimates that the creation and submission of NMS Plan amendments and
    any related materials would result in an average aggregate burden of
    approximately 11,050 hours per year (25 SROs x 442 hours = 11,050
    hours). The Commission further estimates an average aggregate burden of
    approximately 124 hours per year (25 SROs x 4.94 hours = 123.5 hours
    rounded up to 124) for SROs to post any pending NMS Plan amendments to
    a designated website or a plan website and to update such websites to
    reflect the current status of the amendment and the NMS Plan. In
    addition, the Commission estimates that the creation of a NMS Plan
    amendment and any related materials would result in an average
    aggregate cost of approximately $325,000 per year (25 SROs x $13,000 =
    $325,000).
        Finally, to the extent that a plan processor is required for any
    facility contemplated by a NMS Plan, the plan participants or sponsors
    must file with the Commission a statement identifying the plan
    processor selected, describing the material terms under which the plan
    processor is to serve, and indicating the solicitation efforts, if any,
    for alternative plan processors, the alternatives considered, and the
    reasons for the selection of the plan processor. The Commission
    estimates that the preparation and materials related to the selection
    of a plan processor would result in an average aggregate burden of
    approximately 283 hours per year (25 SROs x 11.33 hours = 283.33
    rounded down to 233). In addition, the Commission estimates that the
    preparation and submission of materials related to the selection of a
    plan processor would result in an average aggregate cost of
    approximately $8,333 per year (25 SROs x $333.33 = $8,333.33 rounded
    down to $8,333).
        The above estimates result in a total annual industry burden of
    approximately 12,432 hours (850 + 125 + 11,050 + 124 + 283) and a total
    annual industry cost of approximately $483,333 ($150,000 + $325,000 +
    $8,333).
        Compliance with Rule 608 is mandatory. The text of the NMS Plans
    and any amendments will not be confidential, but published on a
    designated website or a plan website. To the extent that Rule 608
    requires the SROs to submit confidential information to the Commission,
    that information will be kept confidential subject to the provisions of
    applicable law.\1\ The SROs are required by law to retain the records
    and information that are collected pursuant to Rule 608 for a period of
    not less than 5 years, the first 2 years in an

    [[Page 53427]]

    easily accessible place.\2\ Rule 608 does not affect this existing
    requirement.
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        \1\ See, e.g., 5 U.S.C. 552 et seq.; 15 U.S.C. 78x (governing
    the public availability of information obtained by the Commission).
        \2\ See 17 CFR 240.17a-1(b).
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        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
    shall have practical utility; (b) the accuracy of the Commission's
    estimates of the burden of the proposed 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.
        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.
        Please direct your written comments to: David Bottom, Director/
    Chief Information Officer, Securities and Exchange Commission, c/o
    Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email
    to: PRA_Mailbox@sec.gov.

        Dated: August 18, 2020.
    J. Matthew DeLesDernier,
    Assistant Secretary.
    [FR Doc. 2020-18402 Filed 8-27-20; 8:45 am]
    BILLING CODE 8011-01-P