

[Federal Register: August 1, 2007 (Volume 72, Number 147)]
[Notices]               
[Page 42138]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01au07-116]                         

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SECURITIES AND EXCHANGE COMMISSION

 [SEC File No. 270-453; OMB Control No. 3235-0510]

 
Submission for OMB Review; Comment Request; Extension: Rule 302

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collection of information discussed below.
    Regulation ATS (17 CFR 242.300 et seq.) of the Securities Exchange 
Act of 1934 (15 U.S.C. 78a et seq.) provides a regulatory structure 
that directly addresses issues related to alternative trading systems' 
role in the marketplace. Regulation ATS allows alternative trading 
systems to choose between two regulatory structures. Alternative 
trading systems have the choice between registering as broker-dealers 
and complying with Regulation ATS or registering as national securities 
exchanges. Rule 302 of Regulation ATS describes the recordkeeping 
requirements for alternative trading systems that are not national 
securities exchanges. Under Rule 302, alternative trading systems are 
required to make a record of subscribers to the alternative trading 
system, daily summaries of trading in the alternative trading system, 
and time-sequenced records of order information in the alternative 
trading system.
    The information required to be collected under the Rule should 
increase the abilities of the Commission, state securities regulatory 
authorities, and the SROs to ensure that alternative trading systems 
are in compliance with Regulation ATS as well as other rules and 
regulations of the Commission and the SROs. If the information is not 
collected or collected less frequently, the Commission would be 
severely limited in its ability to comply with its statutory 
obligations, provide for the protection of investors and promote the 
maintenance of fair and orderly markets.
    Respondents consist of alternative trading systems that choose to 
register as broker-dealers and comply with the requirements of 
Regulation ATS. The Commission estimates that there are currently 
approximately 65 respondents.
    An estimated 65 respondents will spend approximately 2,340 hours 
per year (65 respondents at 36 burden hours/respondent) to comply with 
the recordkeeping requirements of Rule 302. At an average cost per 
burden hour of $86.54, the resultant total related cost of compliance 
for these respondents is $202,504.00 per year (2,340 burden hours 
multiplied by $86.54/hour; a slight discrepancy is due to arithmetic 
rounding).
    Compliance with Rule 302 is mandatory. The information required by 
the Rule 302 is available only to the examination of the Commission 
staff, state securities authorities and the SROs. Subject to the 
provisions of the Freedom of Information Act, 5 U.S.C. 522, and the 
Commission's rules thereunder (17 CFR 200.80(b)(4)(iii)), the 
Commission does not generally publish or make available information 
contained in any reports, summaries, analyses, letters, or memoranda 
arising out of, in anticipation of, or in connection with an 
examination or inspection of the books and records of any person or any 
other investigation.
    Regulation ATS requires alternative trading systems to preserve any 
records, for at least three years, made in the process of complying 
with the systems capacity, integrity and security requirements.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.
    Comments should be directed to (i) Desk Officer for the Securities 
and Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503 or by sending an e-mail to: 
David_Rostker@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief 

Information Officer, Securities and Exchange Commission, c/o Shirley 
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 
days of this notice.

    Dated: July 23, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-14842 Filed 7-31-07; 8:45 am]

BILLING CODE 8010-01-P
