
[Federal Register Volume 80, Number 21 (Monday, February 2, 2015)]
[Notices]
[Pages 5590-5591]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-01871]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 
20549-2736,

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

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for extension of the previously approved 
collection of information provided for in Rule 12d2-1 (17 CFR 240.12d2-
1), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) 
(``Act'').
    On February 12, 1935, the Commission adopted Rule 12d2-1 
(``Suspension of Trading'') which sets forth the conditions and 
procedures under which a security may be suspended from trading under 
Section 12(d) of the Act.\1\ Rule 12d2-1 provides the procedures by 
which a national securities exchange may suspend from trading a 
security that is listed and registered on the exchange. 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. 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.\2\ 
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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    \2\ 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

[[Page 5591]]

improperly employing a trading suspension. Without Rule 12d2-1, the 
Commission would be unable to fully implement these statutory 
responsibilities.
    There are 18 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 Exchange, and the NYSEMKT LLC than on the other exchanges.\3\ 
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 1,600 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, 800 
annual burden hours for all exchanges. The related internal compliance 
costs associated with these burden hours are $159,200 per year.
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    \3\ In fact, some exchanges do not file any trading suspension 
reports in a given year.
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    The collection of information obligations imposed by Rule 12d2-1 is 
mandatory. The response will be available to the public and will not be 
kept confidential.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    The public may view background documentation for this information 
collection at the following Web site: www.reginfo.gov. 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 email to: 
Shagufta_Ahmed@omb.eop.gov; and (ii) Pamela Dyson, Acting Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi 
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an 
email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 
30 days of this notice.

    Dated: January 27, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-01871 Filed 1-30-15; 8:45 am]
BILLING CODE 8011-01-P


