[Federal Register Volume 87, Number 122 (Monday, June 27, 2022)]
[Notices]
[Page 38212]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-13603]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-405, OMB Control No. 3235-0462]


Proposed Collection; Comment Request; Extension: Customer Account 
Statements

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 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the existing 
collection of information provided for in Rule 604 (17 CFR 242.604) 
under the Securities Exchange Act of 1934 (17 U.S.C. 78a et seq.) 
(``Exchange Act''). The Commission plans to submit this existing 
collection of information to the Office of Management and Budget) 
(``OMB'') for extension and approval.
    Rule 604 requires specialists and market makers to publish customer 
limit orders that are priced superior to the bids or offers being 
displayed by each such specialist or market maker.\1\ Customer limit 
orders that match the bid or offer being displayed by a specialist or 
market maker must be published if the limit price also matches the 
national best bid or offer (``NBBO'') and the size of the customer 
limit order is more than de minimis (i.e., more than 10% of the 
specialist's or market maker's displayed size).
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    \1\ See Securities Exchange Act Release No. 37619A (September 6, 
1996), 61 FR 48290 (September 12, 1996).
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    The information collected pursuant to Rule 604 is necessary to 
facilitate the establishment of a national market system for 
securities. The publication of trading interests that improve 
specialists' and market makers' quotes presents investors with improved 
execution opportunities and improved access to the best available 
prices when they buy or sell securities.
    The Commission estimates that approximately 318 respondents will 
respond to the collection of information requirements each time they 
receive a displayable customer limit order. The Commission further 
estimates that a respondent will receive a customer limit order, on 
average, 15,136.767 times per trading day with an estimate average time 
of 0.1 second per quote update. Accordingly, assuming 252 days in a 
trading year, an average 105.957 hours per year per respondent, the 
Commission estimates that the total annual burden for all respondents 
is 33,694 hours.
    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 by August 26, 2022.
    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: June 21, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-13603 Filed 6-24-22; 8:45 am]
BILLING CODE 8011-01-P


