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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0600
ICR Reference No:
200802-3235-021
Status:
Historical Active
Previous ICR Reference No:
200412-3235-034
Agency/Subagency:
SEC
Agency Tracking No:
270-540
Title:
Order Protection Rule - Rule 611 of Regulation NMS
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
06/05/2008
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/09/2008
Terms of Clearance:
In its next submission, the agency should ensure that the cost burdens are not a monetization of the burden hours. The agency is reminded to avoid such double-counting of burden.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
06/30/2011
36 Months From Approved
06/30/2008
Responses
788
0
609
Time Burden (Hours)
47,280
0
134,520
Cost Burden (Dollars)
0
0
9,135,000
Abstract:
Rule 611, adopted June 29, 2005, effective August 29, 2005 (see 70FR 37495), requires a trading center (which includes national securities exchanges, exchange specialists, ATSs, OTC market makers, and block positioners) to establish, maintain, and enforce policies and procedures that are reasonably designed to prevent trade-throughs of protected quotations and, if relying on an exception, that are reasonably designed to assure compliance with the terms of the exception.
Authorizing Statute(s):
US Code:
15 USC 78b, 78c(b), 78e, 78f, 78k-1,
Name of Law: Sections 2, 3(b), 5, 6, 11,11A, 15, 15A, 17(a) and (b), 19, 23(a) and 36
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
73 FR 5600
01/30/2008
30-day Notice:
Federal Register Citation:
Citation Date:
73 FR 19269
04/09/2008
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Order Protection Rule - Rule 611 of Regulation NMS
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
788
609
0
179
0
0
Annual Time Burden (Hours)
47,280
134,520
0
-87,240
0
0
Annual Cost Burden (Dollars)
0
9,135,000
0
-9,135,000
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
The one-time hour burden associated with developing the required policies and procedures is no longer applicable. With respect to the estimated annual hour burden, the number of respondents reflects an increase in the number of automated trading systems and firms that were registered equity market makers or specialists at year-end 2006, and an increase in the number of national securities exchanges that trade NMS stocks. Additionally, the total cost of compliance for the annual hour burden has been revised to reflect updated estimated cost figures for an in-house attorney and an assistant compliance director. The estimate of the annualized cost burden originally consisted of one-time startup costs that are no longer applicable.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Rebekah Goshorn 2025515514
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
04/09/2008
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