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:
3235-0461
ICR Reference No:
201007-3235-026
Status:
Historical Active
Previous ICR Reference No:
200912-3235-028
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-404
Title:
Dissemination of Quotations -- Rule 602 of Regulation NMS
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved with change
Conclusion Date:
11/23/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/18/2010
Terms of Clearance:
Agency modified burden estimates to address inconsistencies.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2013
36 Months From Approved
01/31/2013
Responses
24,440,015
0
246,788,005
Time Burden (Hours)
24,117
0
205,486
Cost Burden (Dollars)
0
0
66,000
Abstract:
This disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each subject security, as defined under the Rule. Rule 602 of Regulation NMS contains two related collections of information. The first collection of information is found in Rule 602(a). This disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each subject security, as defined under the Rule. The second collection of information is found in Rule 602(b). This disclosure requirement obligates exchange members and over-the-counter (OTC) market makers that are a responsible broker or dealer, as defined under the Rule, to communicate to an exchange or association their best bids, best offers, and quotation sizes for subject securities.
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:
71 FR 55036
09/20/2006
30-day Notice:
Federal Register Citation:
Citation Date:
71 FR 70445
12/11/2006
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
Dissemination of Quotations in NMS Securities - Rule 602(a)
Dissemination of Quotations in NMS Securities -- Rule 602(b)
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
24,440,015
246,788,005
0
15
-222,348,005
0
Annual Time Burden (Hours)
24,117
205,486
0
3,750
-185,119
0
Annual Cost Burden (Dollars)
0
66,000
0
0
-66,000
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:
This disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each subject security, as defined under the Rule. Rule 602(a) concerns reports made by a Self-Regulatory Organization (SRO) to quotation vendors. Rule 602(b) concerns reports made by exchange members and Over-the-counter (OTC) market makers to the SRO. The revised collection now has two collections associated with it. Previously Rule 602(a) had less than ten responses and was not subject to PRA. The decrease of 181,368 hours for Rule 602(b) is due changes in automation for disclosures. Additionally, the $66,000 cost reported in the prior submission was reported in error.
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:
Nicholas Shwayri 2025515667
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:
08/18/2010
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