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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:
3235-0671
ICR Reference No:
201608-3235-003
Status:
Historical Active
Previous ICR Reference No:
201507-3235-009
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-616
Title:
Rule 613 - Consolidated Audit Trail-Filing a National Market System Plan
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
11/22/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/09/2016
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2019
36 Months From Approved
12/31/2018
Responses
1,919
0
19
Time Burden (Hours)
8,282,637
0
17,480
Cost Burden (Dollars)
540,792,490
0
126,667
Abstract:
Rule 613 requires the national securities exchanges and national securities association ("Participants") to develop and file a national market system (“NMS”) plan to govern the creation, implementation and maintenance of a consolidated audit trail and central repository for the collection of information for NMS securities. The NMS plan must require each SRO and its respective members to provide certain data to the central repository in compliance with Rule 613. The Participants filed the NMS plan required by Rule 613 ("CAT NMS Plan"). This PRA contains the information collections required by Rule 613, as informed by the data provided in the CAT NMS Plan.
Authorizing Statute(s):
US Code:
15 USC 78k-1(a)(3)(B)
Name of Law: Section 11A(a)(3)(B) - National market system for securities; securities information processors
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:
81 FR 30613
04/27/2016
30-day Notice:
Federal Register Citation:
Citation Date:
81 FR 30613
04/27/2016
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
10
IC Title
Form No.
Form Name
Central Repository
Creation and Filing of NMS Plan
Data Collection and Reporting - Large Non-OATS-Reporting Broker-Dealers
Data Collection and Reporting - Large OATS-Reporting Broker-Dealers
Data Collection and Reporting - Participants
Data Collection and Reporting - Small OATS-Reporting Broker-Dealers
Document on Expansion to Other Securities
Non-OATS-Reporting Broker-Dealers
Surveillance
Written Assessment of Operation of the Consolidated Audit Trail
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
1,919
19
0
1,900
0
0
Annual Time Burden (Hours)
8,282,637
17,480
0
8,265,157
0
0
Annual Cost Burden (Dollars)
540,792,490
126,667
0
540,665,823
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The Commission notes that when it adopted Rule 613, it discussed the burden hours associated with the development and submission of the CAT NMS Plan only. In doing so, the Commission noted that the development and submission of the CAT NMS Plan that would govern the creation, implementation and maintenance of a consolidated audit trail is a multi-step process and accordingly that the Commission was deferring its discussion of the burden hours associated with the other paperwork requirements required by Rule 613 and ongoing burdens since they would only be incurred if the Commission approves the CAT NMS Plan. The estimates are based on the requirements of Rule 613 and take into account the Exemption Order. Information and estimates contained in the CAT NMS Plan that was submitted by the Participants also informed these estimates because they provide a useful, quantified point of reference regarding potential burdens and costs. The Commission acknowledges that the CAT NMS Plan filed by the Participants contains provisions in addition to those required by the Commission in Rule 613 (e.g., requiring the inclusion of OTC Equity Securities; the availability of historical data for not less than six years in a manner that is directly available and searchable without manual intervention from the Plan Processor; a complete symbology database to be maintained by the Plan Processor, including the historical symbology; as well as issue symbol information and data using the listing exchange symbology format).
Annual Cost to Federal Government:
$250,000
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]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Leigh Duffy 202 551-5928 DuffyL@sec.gov
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:
08/09/2016
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