View Information Collection Request (ICR) Package
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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:
3235-0505
ICR Reference No:
201006-3235-006
Status:
Historical Active
Previous ICR Reference No:
200706-3235-004
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-450
Title:
Rule 303 (17 CFR 242.303) Record Preservation Requirements for Alternative Trading Systems
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:
10/21/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/10/2010
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2013
36 Months From Approved
02/28/2011
Responses
81
0
65
Time Burden (Hours)
1,215
0
260
Cost Burden (Dollars)
0
0
0
Abstract:
Rule 303 provides that alternative trading systems must preserve certain records for a certain amount of time, including records made pursuant to Rule 302, notices to subscribers, certain documents relating to compliance with the fair access and capacity, integrity and security requriements set forth in Rule 301, and organizational documents. The rule describes how such records must be maintained, what entities may perform this function, and how long records must be preserved.
Authorizing Statute(s):
US Code:
15 USC 78a
Name of Law: Securities Exchange Act of 1934
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:
75 FR 39710
07/12/2010
30-day Notice:
Federal Register Citation:
Citation Date:
75 FR 55371
09/10/2010
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
Rule 303 (17 CFR 242.303) Record Preservation Requirements for Alternative Trading Systems
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
81
65
0
0
16
0
Annual Time Burden (Hours)
1,215
260
0
0
955
0
Annual Cost Burden (Dollars)
0
0
0
0
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:
No
Burden Reduction Due to:
Short Statement:
the estimated burdens associated with Rule 303 of Regulation ATS have increased as a result of an increase in the SECs estimate of the burden under Rule 303 and an increase in the number of ATSs. The SECs estimate of the burden under Rule 303 has increased from four hours per ATS per year to 15 hours per ATS per year. In addition, since the previous filing, the number of ATSs has increased from 65 to 81. For these reasons the total burden under Rule 303 has increased from 260 to 1,215 hours per year, and the related cost has increased from $22,500 to $128,790 per year. The estimate of total annualized cost has been reduced to zero, as the cost information previously included in Item 13 in the SECs 2007 PRA Submission actually reflected the cost of the burden measured in hours (as set forth in Item 12) and was, therefore, being double counted.
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]?
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:
Sarah Schandler 202 551-7145
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:
09/10/2010
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