
[Federal Register Volume 76, Number 226 (Wednesday, November 23, 2011)]
[Notices]
[Pages 72460-72461]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-30219]


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SECURITIES AND EXCHANGE COMMISSION


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.

Extension:
    Rule 12d2-1; OMB Control No. 3235-0081; SEC File No. 270-98.

    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'') is soliciting comments on the collections 
of information summarized below. The Commission plans to submit these 
existing collections of information to the Office of Management and 
Budget for extension and approval.
     Rule 12d2-1 (17 CFR 240.12d2-1) Suspension of Trading.
    On February 12, 1935, the Commission adopted Rule 12d2-1,\1\ under 
the Securities Exchange Act of 1934 (15 U.S.C. 78b et seq.) (``Act''), 
to establish the procedures by which a national securities exchange may 
suspend from trading a security that is listed and registered on the 
exchange under Section 12(d) of the Act.\2\ Under Rule 12d2-1, an 
exchange is permitted to suspend from trading a listed security in 
accordance with its rules, and must promptly notify the Commission of 
any such suspension, along with the effective date and the reasons for 
the suspension.
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    \1\ See Securities Exchange Act Release No. 98 (February 12, 
1935).
    \2\ See Securities Exchange Act Release No. 7011 (February 5, 
1963), 28 FR 1506 (February 16, 1963).
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    Any such suspension may be continued until such time as the 
Commission may determine that the suspension is designed to evade the 
provisions of Section 12(d) of the Act and Rule 12d2-2 thereunder.\3\ 
During the continuance of such suspension under Rule 12d2-1, the 
exchange is required to notify the Commission promptly of any change in 
the reasons for the suspension. Upon the restoration to trading of any 
security suspended under Rule 12d2-1, the exchange must notify the 
Commission promptly of the effective date of such restoration.
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    \3\ Rule 12d2-2 prescribes the circumstances under which a 
security may be delisted from an exchange and withdrawn from 
registration under Section 12(b) of the Act, and provides the 
procedures for taking such action.
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    The trading suspension notices serve a number of purposes. First, 
they inform the Commission that an exchange has suspended from trading 
a listed security or reintroduced trading in a previously suspended 
security. They also provide the Commission with information necessary 
for it to determine that the suspension has been accomplished in 
accordance with the rules of the exchange, and to verify that the 
exchange has not evaded the requirements of Section 12(d) of the Act 
and Rule 12d2-2 thereunder by improperly employing a trading 
suspension. Without Rule 12d2-1, the Commission would be unable to 
fully implement these statutory responsibilities.
    There are 15 national securities exchanges that are subject to Rule 
12d2-1. The burden of complying with Rule 12d2-1 is not evenly 
distributed among the exchanges, however, since there are many more 
securities listed on the New York Stock Exchange, Inc., the NASDAQ 
Stock Market, and the American Stock Exchange LLC than on the other 
exchanges.\4\ However, for purposes of this filing, the Commission 
staff has assumed that the number of responses is evenly divided among 
the exchanges. There are approximately 1,500 responses under Rule 12d2-
1 for the purpose of suspension of trading from the national securities 
exchanges each year, and the resultant aggregate annual reporting hour 
burden would be, assuming on average one-half reporting hour per 
response, 750 annual burden hours for all exchanges. The related

[[Page 72461]]

costs associated with these burden hours are $145,125.
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    \4\ In fact, some exchanges do not file any trading suspension 
reports in a given year.
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    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology. Consideration will 
be given to comments and suggestions submitted in writing within 60 
days of this publication.
    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid Office of Management and Budget (OMB) control number.
    Comments should be directed to: Thomas Bayer, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or 
send an email to: PRA_Mailbox@sec.gov. Comments must be submitted 
within 60 days of this notice.

    Dated: November 18, 2011.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-30219 Filed 11-22-11; 8:45 am]
BILLING CODE 8011-01-P


