View Information Collection Request (ICR) Package

OMB Control No: 3235-0647	ICR Reference No: 200810-3235-005
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No: 270-586
Title: Temporary Rule 204T
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 10/14/2008
OIRA Conclusion Action: Preapproved	Conclusion Date: 10/14/2008
	Date Received in OIRA: 10/14/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2009	6 Months From Approved
Responses	13,264,252	0	0
Time Burden (Hours)	2,122,280	0	0
Cost Burden (Dollars)	0	0	0

Abstract: Temporary Rule 204T is intended to substantially restrict the practice of naked short selling in all equity securities by strengthening the delivery requirements for such securities. The information collected will assist the Commission and self-regulatory organizations in monitoring whether or not participants of a registered clearing agency, and the broker-dealers from which they receive trades for clearance and settlement, are complying with the close-out and borrowing requirements of the temporary rule.

Emergency Justfication: STATEMENT SUPPORTING NEED FOR EMERGENCY CONSIDERATION The Securities and Exchange Commission (Commission) is requesting emergency consideration of one collection of information pursuant to 44 U.S.C. § 3507(j) and 5 C.F.R. § 1320.13. The title for this collection of information is Temporary Rule 204T. In connection with this request, the Commission has determined: 1. The collection of information is needed prior to the time periods established under the Paperwork Reduction Act of 1995, 44 U.S.C. § 3501 et seq. (PRA) and applicable regulations, 5 C.F.R. 1320.1 et seq. 2. The collection of information is essential to the mission of the Commission. 3. The Commission cannot reasonably comply with the normal clearance requirement of the PRA and applicable regulations because: a. public harm is reasonably likely to result if normal clearance procedures are followed; b. an unanticipated event has occurred; and c. the use of normal clearance procedures is reasonably likely to prevent or disrupt the collection of information. 4. The Commission requests that OMB approve or disapprove the collection of information by October 14, 2008. 5. The Commission has been coordinating extensively with other financial regulators to address the current threats to fair and orderly securities markets. Due to the exigent circumstances, the Commission is unable to solicit prior public comment on the collection and estimated burden. 6. The Commission requests that OMB waive the notice requirement set forth in 5 C.F.R. § 1320.5(a)(1)(iv).

Authorizing Statute(s): US Code: 15 USC 78b, 78c(b), 78f, 78i(h), 78j Name of Law: Sections 2, 3(b), 6, 9(h), 10 of the Securities Exchange Act of 1934
   US Code: 15 USC 78k-1, 78o, 78o-3, 78q, 78q-1 Name of Law: Sections 11A, 15, 15A, 17, 17A of the Securities Exchange Act of 1934
   US Code: 15 USC 78s and 78w(a) Name of Law: Sections 19 and 23(a) of the Securities Exchange Act of 1934

Citations for New Statutory Requirements: US Code: 15 USC 78b, 78c(b), 78f, 78i(h), 78j Name of Law: Sections 2, 3(b), 6, 9(h), 10 of the Securities Exchange Act of 1934
US Code: 15 USC 78k-1, 78o, 78o-3, 78q, 78q-1 Name of Law: Sections 11A, 15, 15A, 17, 17A of the Securities Exchange Act of 1934
US Code: 15 USC 78s and 78w(a) Name of Law: Sections 19 and 23(a) of the Securities Exchange Act of 1934

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK22	Final or interim final rulemaking

Federal Register Notices & Comments
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
Exchange Act Temporary Rule 204T

ICR Summary of Burden

	Total Request	Change Due to Agency Discretion
Annual Number of Responses	13,264,252	13,264,252
Annual Time Burden (Hours)	2,122,280	2,122,280
Annual Cost Burden (Dollars)	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Temporary Rule 204T is intended to substantially restrict the practice of naked short selling in all equity securities by strengthening the delivery requirements for such securities. The information collected will assist the Commission and self-regulatory organizations in monitoring whether or not participants of a registered clearing agency, and the broker-dealers from which they receive trades for clearance and settlement, are complying with the close-out and borrowing requirements of the temporary rule.

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: Joan Collopy 202 942-0772

View ICR - OIRA Conclusion