Notice2022-13603
Proposed Collection; Comment Request; Extension: Customer Account Statements
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
June 27, 2022
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 87 Issue 122 (Monday, June 27, 2022)</title>
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[Federal Register Volume 87, Number 122 (Monday, June 27, 2022)]
[Notices]
[Page 38212]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[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:
<a href="/cdn-cgi/l/email-protection#1c4c4e5d43517d75707e73645c6f797f327b736a"><span class="__cf_email__" data-cfemail="baeae8fbe5f7dbd3d6d8d5c2fac9dfd994ddd5cc">[email protected]</span></a>.
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
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