Notice2024-08292
Submission for OMB Review; Comment Request; Extension: Rule 12f-3
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
April 18, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 76 (Thursday, April 18, 2024)</title>
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[Federal Register Volume 89, Number 76 (Thursday, April 18, 2024)]
[Notices]
[Pages 27816-27817]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-08292]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-141, OMB Control No. 3235-0249]
Submission for OMB Review; Comment Request; Extension: Rule 12f-3
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'') has submitted to the Office of Management
and Budget (``OMB'') a request for approval of extension of the
previously approved collection of information provided for in Rule 12f-
3 (17 CFR 240.12f-3), under the Securities Exchange Act of 1934
(``Act'') (15 U.S.C. 78a et seq.).
Rule 12f-3 (``Rule''), which was originally adopted in 1955
pursuant to Sections 12(f) and 23(a) of the Act, and as further
modified in 1995, sets forth the requirements to submit an application
to the Commission for termination or suspension of unlisted trading
privileges in a security, as contemplated under Section 12(f)(4) of the
Act. In addition to requiring that one copy of the application be filed
with the Commission, the Rule requires that the application contain
specified information. Under the Rule, an application to suspend or
terminate unlisted trading privileges must provide, among other things,
the name of the applicant, a brief statement of the applicant's
interest in the question of termination or suspension of such
[[Page 27817]]
unlisted trading privileges, the title of the security, the name of the
issuer, certain information regarding the size of the class of
security, the public trading volume and price history in the security
for specified time periods on the subject exchange, and a statement
indicating that the applicant has provided a copy of such application
to the exchange from which the suspension or termination of unlisted
trading privileges are sought and to any other exchange on which the
security is listed or admitted to unlisted trading privileges.
The information required to be included in applications submitted
pursuant to Rule 12f-3 is intended to provide the Commission with
sufficient information to make the necessary findings under the Act to
terminate or suspend by order the unlisted trading privileges granted a
security on a national securities exchange. Without the Rule, the
Commission would be unable to fulfill these statutory responsibilities.
The burden of complying with Rule 12f-3 arises when a potential
respondent, having a demonstrable bona fide interest in the question of
termination or suspension of the unlisted trading privileges of a
security, determines to seek such termination or suspension. The staff
estimates that each such application to terminate or suspend unlisted
trading privileges requires approximately one hour to complete. Thus
each potential respondent would incur on average one burden hour in
complying with the Rule.
The Commission staff estimates that there could be as many as 24
responses annually for an aggregate burden for all respondents of 24
hours. Each respondent's related internal cost of compliance for Rule
12f-3 would be $242, or the cost of one hour of professional work of a
paralegal needed to complete the application. The total annual internal
cost of compliance for all potential respondents, therefore, is $5,808
(124 responses x $242/response).
Compliance with the application requirements of Rule 12f-3 is
mandatory, though the filing of such applications is undertaken
voluntarily. Rule 12f-3 does not have a record retention requirement
per se. However, responses made pursuant to Rule 12f-3 are subject to
the recordkeeping requirements of Rules 17a-3 and 17a-4 of the Act.
Information received in response to Rule 12f-3 shall not be kept
confidential; the information collected is public information.
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 website: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent by May 20, 2024 to (i) <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a> and (ii) David Bottom, Director/Chief Information
Officer, Securities and Exchange Commission, c/o John Pezzullo, 100 F
Street NE, Washington, DC 20549, or by sending an email to:
<a href="/cdn-cgi/l/email-protection#4f1f1d0e10022e26232d20370f3c2a2c61282039"><span class="__cf_email__" data-cfemail="e6b6b4a7b9ab878f8a84899ea6958385c8818990">[email protected]</span></a>.
Dated: April 15, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-08292 Filed 4-17-24; 8:45 am]
BILLING CODE 8011-01-P
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