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:
202306-3235-021
Status:
Historical Inactive
Previous ICR Reference No:
202101-3235-010
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:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule and continue
Conclusion Date:
09/25/2023
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/07/2023
Terms of Clearance:
OIRA will review again upon finalization of the rule.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/28/2025
02/28/2025
03/31/2025
Responses
96
0
96
Time Burden (Hours)
1,412
0
1,412
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 requirements 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. The Commission proposed amendments to Regulation ATS and Exchange Act Rule 3b-16, which defines certain terms in the definition of “exchange” under section 3(a)(1) of the Exchange Act. In April 2023, the Commission provided supplemental information and reopened the comment period for the 2022 Reg ATS Proposing Release. These proposed amendments would increase the number of respondents for the collections of information in several rules, including this one.
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:
3235-AM45
Proposed rulemaking
87 FR 15496
03/18/2022
Federal Register Notices & Comments
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
Rule 303(a)(2)(ii) - Record Preservation Requirements for Alternative Trading Systems
Rule 303 (17 CFR 242.303) Record Preservation Requirements for Alternative Trading Systems
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 estimated hour burden associated with Rule 303 of Regulation ATS has increased 795 hours from approximately 1,412 hours per year to approximately 2,207 hours per year as a result of an increase in the number of estimated respondents from 94 to 147 due to the proposed amendments described in the 2022 Reg ATS Proposing and 2023 Reg ATS Reopening Releases.
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
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:
07/07/2023
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