[Federal Register Volume 87, Number 1 (Monday, January 3, 2022)]
[Notices]
[Pages 132-133]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-28432]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-017, OMB Control No. 3235-0017]


Proposed Collection; Comment Request; Extension: Rules 6a-1 and 
6a-2, Form 1

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

    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'') is soliciting comments on the existing 
collection of information provided for in Rule 6a-1 (17 CFR 240.6a-1), 
Rule 6a-2 (17 CFR 240.6a-2), and Form 1 (17 CFR 249.1) under the 
Securities Exchange Act of 1934 (``Exchange Act'') (15 U.S.C. 78a et 
seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    The Exchange Act sets forth a regulatory scheme for national 
securities exchanges. Rule 6a-1 under the Exchange Act generally 
requires an applicant for initial registration as a national securities 
exchange to file an application with the Commission on Form 1. An 
exchange that seeks an exemption from registration based on limited 
trading volume also must apply for such exemption on Form 1. Rule 6a-2 
under the Exchange Act requires registered and exempt exchanges: (1) To 
amend the Form 1 if there are any material changes to the information 
provided in the initial Form 1; and (2) to submit periodic updates of 
certain information provided in the initial Form 1, whether such 
information has changed or not. The information required pursuant to 
Rules 6a-1 and 6a-2 is necessary to enable the Commission to maintain 
accurate files regarding the exchange and to exercise its statutory 
oversight functions. Without the information submitted pursuant to Rule 
6a-1 on Form 1, the Commission would not be able to determine whether 
the respondent has met the criteria for registration (or an exemption 
from registration) set forth in Section 6 of the Exchange Act. The 
amendments and periodic updates of information submitted pursuant to 
Rule 6a-2 are necessary to assist the Commission in determining whether 
a national securities exchange or exempt exchange is continuing to 
operate in compliance with the Exchange Act.
    Initial filings on Form 1 by prospective exchanges are made on a 
one-time basis. The Commission estimates that it will receive 
approximately one initial Form 1 filing per year and that each 
respondent would incur an average burden of 880 hours to file an 
initial Form 1 at an average internal compliance cost per response of 
approximately $340,886. Therefore, the Commission estimates that the 
annual burden for all respondents to file the initial Form 1 would be 
880 hours (one response/respondent x one respondent x 880 hours/
response) and an internal compliance cost of $340,886 (one response/
respondent x one respondent x $340,886/response).
    There currently are 24 entities registered as national securities 
exchanges. The Commission estimates that each registered or exempt 
exchange files eleven amendments or periodic updates to Form 1 per 
year, incurring an average burden of 25 hours per amendment to comply 
with Rule 6a-2. The Commission estimates that the average internal 
compliance cost for a national securities exchange per response would 
be approximately $8,480. The Commission estimates that the annual 
burden for all respondents to file amendments and periodic updates to 
the Form 1 pursuant to Rule 6a-2 would be 6,600 hours (24 respondents x 
25 hours/response x 11 responses/respondent per year) and an internal 
compliance cost of $2,238,720 (24 respondents x $8,480/response x 11 
responses/respondent per year).

[[Page 133]]

    The total estimated annual time burden associated with Rules 6a-1 
and 6a-2 is thus approximately 7,480 hours (880 + 6,600).
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed 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.
    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.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John 
Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email to: 
[email protected].

    Dated: December 28, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-28432 Filed 12-30-21; 8:45 am]
BILLING CODE 8011-01-P


