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OMB Control No: 3235-0541	ICR Reference No: 201810-3235-044
Status: Historical Active	Previous ICR Reference No: 201601-3235-011
Agency/Subagency: SEC	Agency Tracking No: TM-270-489
Title: Rule 606 of Regulation NMS (f/k/a Rule 11Ac1-6)
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: 02/25/2019
	Date Received in OIRA: 11/20/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2022	36 Months From Approved	08/31/2019
Responses	480,649	0	371,064
Time Burden (Hours)	229,782	0	116,560
Cost Burden (Dollars)	5,591,667	0	0

Abstract: The information disclosed by Rule 606 of Regulation NMS will be used by investors to evaluate their brokers' order routing decisions, and by broker-dealers to compete on the basis of order routing services. Respondents will be broker-dealers. The Commission adopted amendments to Rule 606 of Regulation NMS to require disclosure by broker-dealers of (1) a report, upon request of a customer that places with the broker-dealer, directly or indirectly, NMS stock orders of any size that are submitted on a not held basis (subject to two de minimis exceptions), containing certain information on the broker-dealer’s handling of such orders for that customer for the prior six months (“Customer-Specific Disclosure on Handling of Non-Exempt Not Held Orders”); (2) a quarterly aggregated public report on the handling of orders in NMS stocks that are submitted on a held basis and orders in NMS securities that are option contracts with a market value less than $50,000 (“Quarterly Public Disclosure on Routing of Held Orders and Options Contracts”); and (3) a report, upon request of a customer, on the routing of that customer’s orders in NMS stocks that are submitted on a held basis; orders in NMS stocks that are submitted on a not held basis and do not qualify for the two de minimis exceptions; and orders in NMS securities that are option contracts, containing certain information on the broker-dealer’s routing of such orders for that customer for the prior six months. The amendments to Rule 606 would require collections of information.

Authorizing Statute(s): US Code: 15 USC 78q Name of Law: Securities Exchange Act of 1934
US Code: 15 USC 17k-1 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:
3235-AL67	Final or interim final rulemaking	83 FR 58338	11/19/2018

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	480,649	371,064	109,481	104
Annual Time Burden (Hours)	229,782	116,560	109,062	4,160
Annual Cost Burden (Dollars)	5,591,667	0	5,591,667	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: The total annual hourly and cost burden have increased from the previous version of the Rule, as the adopted amendments are enhancing the current quarterly and customer-specific disclosure requirements for order routing under Rule 606(a)(1) and (b)(1), respectively, and adding new requirements for customer-specific reports on order handling under Rule 606(b)(3). The burdens for the existing collections for Rule 606(a)(1) and 606(b)(1) are also increasing due an increase in the number of respondents since the most recent renewal: the number of broker-dealers subject to the information collection requirements of Rule 606(a)(1) increased from 266 to 292 and the number of clearing brokers subject to the information collection requirements of Rule 606(b)(1) increased from 185 to 217.

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. 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: Amir Katz 202 551-2000

View ICR - OIRA Conclusion