Notice2022-11390
Proposed Collection; Comment Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 27, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 103 (Friday, May 27, 2022)</title>
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[Federal Register Volume 87, Number 103 (Friday, May 27, 2022)]
[Notices]
[Page 32212]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-11390]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-537, OMB Control No. 3235-0597]
Proposed Collection; 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 31 and Form R31
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 31 (17 CFR
240.31) and Form R31 (17 CFR 249.11) under the Securities Exchange Act
of 1934 (15 U.S.C. 78ee) (``Exchange Act''). The Commission plans to
submit this existing collection of information to the Office of
Management and Budget (``OMB'') for extension and approval.
Section 31 of the Exchange Act requires the Commission to collect
fees and assessments from national securities exchanges and national
securities associations (collectively, ``self-regulatory
organizations'' or ``SROs'') based on the volume of their securities
transactions. To collect the proper amounts, the Commission adopted
Rule 31 and Form R31 under the Exchange Act whereby each SRO must
report to the Commission the volume of its securities transactions and
the Commission, based on those data, calculates the amount of fees and
assessments that each SRO owes pursuant to Section 31. Rule 31 and Form
R31 require each SRO to provide these data on a monthly basis.
Currently, there are 27 respondents under Rule 31 that are subject
to the collection of information requirements of Rule 31: 24 national
securities exchanges, one national securities association, and two
registered clearing agencies that are required to provide certain data
in their possession needed by the SROs to complete Form R31, although
these two clearing agencies are not themselves required to complete and
submit Form R31.\1\ The Commission estimates that the total burden for
all 27 respondents is 432 hours per year. The Commission estimates
that, based on previous and current experience, three additional
national securities exchanges will become registered and subject to the
reporting requirements of Rule 31 over the course of the authorization
period and collectively incur a burden of 18 hours per year. Thus, the
Commission estimates the collective burden for all respondents
(existing and new added together) to be 450 hours per year. The SEC
does not believe that the 27 existing or 3 expected new respondents
will have to incur any capital or start-up costs, or any additional
operational or maintenance costs (other than as already discussed in
this paragraph), to comply with the collection of information
requirements imposed by Rule 31 and Form R31. The SEC estimates that
the average annual cost to the SEC of processing all of these filings
would be $20,307.48 (90.1 hours at an average of $225.39 per hour).
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\1\ Since the last renewal period, when there was one security
futures exchange that reported transactions, that exchanged has
ceased operation. Therefore, currently, no security futures
exchanges report any transaction in security futures on Form R31.
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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 Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimate of the burden of the proposed collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be 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 July 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:
<a href="/cdn-cgi/l/email-protection#ecbcbeadb3a18d85808e8394ac9f898fc28b839a"><span class="__cf_email__" data-cfemail="faaaa8bba5b79b9396989582ba899f99d49d958c">[email protected]</span></a>.
Dated: May 23, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-11390 Filed 5-26-22; 8:45 am]
BILLING CODE 8011-01-P
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