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OMB Control No: 3235-0541	ICR Reference No: 202104-3235-016
Status: Historical Active	Previous ICR Reference No: 201810-3235-044
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: 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: 03/03/2022
	Date Received in OIRA: 01/27/2022
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2025	36 Months From Approved	03/31/2022
Responses	413,327	0	480,649
Time Burden (Hours)	190,240	0	229,782
Cost Burden (Dollars)	1,300,000	0	5,591,667

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:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 71935	12/20/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 4312	01/27/2022
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	413,327	480,649	-67,322
Annual Time Burden (Hours)	190,240	229,782	-39,542
Annual Cost Burden (Dollars)	1,300,000	5,591,667	-4,291,667

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 total annual hour burden decreased from approximately 229,782 hours to approximately 190,240 hours. The reduction is attributed to (1) a decrease in the estimated number of Rule 606(a)(1) respondents from 292 to 264 and a decrease in the number of Rule 606(b)(1) respondents from 217 to 186, and (2) the obsolescence of certain one-time only hour burdens imposed by the 2018 amendments. The total annual cost burden decreased from approximately $5,591,667 to approximately $1,300,000 due to the obsolescence of certain one-time only cost burdens imposed by the 2018 amendments.

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? No

Agency Contact: Amir Katz 202 551-2000

View ICR - OIRA Conclusion