Notice2026-19620
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 613 of Regulation NMS
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
September 25, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 91 Issue 185 (Friday, September 25, 2026)</title>
</head>
<body><pre>
[Federal Register Volume 91, Number 185 (Friday, September 25, 2026)]
[Notices]
[Pages 61004-61005]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-19620]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[OMB Control No. 3235-0671]
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Extension: Rule 613 of Regulation NMS
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
connection in connection with a National Market System (NMS) Plan filed
with the Commission under Rule 613 (17 CFR 242.613), under the
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.).
Rule 613 of Regulation NMS (17 CFR part 242) required national
securities exchanges and national securities associations
(collectively, the ``Participants'') to jointly submit to the
[[Page 61005]]
Commission a national market system (``NMS'') plan to govern the
creation, implementation, and maintenance of a consolidated audit trail
(``CAT'') and Central Repository for the collection of information for
NMS securities. On February 27, 2015, the Participants submitted the
CAT NMS Plan to the Commission.\1\ On April 27, 2016, the Commission
published a notice soliciting comments from the public (``CAT NMS Plan
Notice'').\2\ On November 15, 2016, the Commission approved the CAT NMS
Plan (``CAT NMS Plan Order''), including the information collections
proposed in the CAT NMS Plan Notice, and certain additional information
collections.\3\
---------------------------------------------------------------------------
\1\ See Letter from Participants to Brent J. Fields, Secretary,
Commission, dated February 27, 2015. The Participants filed the CAT
NMS Plan on September 30, 2014. See Letter from the Participants to
Brent J. Fields, Secretary, Commission, dated September 30, 2014.
The CAT NMS Plan filed on February 27, 2015, was an amendment to and
replacement of the Initial CAT NMS Plan (the ``Amended and Restated
CAT NMS Plan''). On December 24, 2015, the Participants submitted an
Amendment to the Amended and Restated CAT NMS Plan. See Letter from
Participants to Brent J. Fields, Secretary, Commission, dated
December 23, 2015 (the ``Amendment''). On February 9, 2016, the
Participants filed with the Commission an identical, but unmarked,
version of the Amended and Restated CAT NMS Plan, dated February 27,
2015, as modified by the Amendment, as well as a copy of the request
for proposal issued by the Participants to solicit Bids from parties
interested in serving as the Plan Processor for the consolidated
audit trail. Unless the context otherwise requires, the ``CAT NMS
Plan'' shall refer to the Amended and Restated CAT NMS Plan, as
modified by the Amendment.
\2\ See Securities Exchange Act Release No. 77724 (April 27,
2016), 81 FR 30613 (May 17, 2016). The burdens associated with the
CAT NMS Plan Notice were submitted under OMB number 3235-0671 which
relates to the NMS Plan required to be filed under Rule 613.
\3\ See Securities Exchange Act Release No. 79318 (November 15,
2016), 81 FR 84696 (November 23, 2016), available at <a href="https://www.sec.gov/rules/sro/nms/2016/34-79318.pdf">https://www.sec.gov/rules/sro/nms/2016/34-79318.pdf</a> (``CAT NMS Plan
Order'').
---------------------------------------------------------------------------
Since 2017 the Commission has approved several amendments to the
CAT NMS Plan and issued exemptive relief from its requirements. Some of
these amendments and/or exemptive relief orders have resulted in data
being removed from the CAT. For instance, the Commission has issued
exemptive relief from and approved amendments to the CAT NMS Plan to
enable the SROs to remove customer and account-level information from
the CAT.\4\ The Commission has also issued exemptive relief from and
approved amendments to the CAT NMS Plan to enable the SROs to shorten
the retention period for the data collected by the CAT.\5\
---------------------------------------------------------------------------
\4\ See, e.g., Securities Exchange Act Release No. 88393 (Mar.
17, 2020), 85 FR 16152 (Mar. 20, 2020) (the ``2020 PII Exemptive
Relief Order'') (providing conditional exemptive relief from CAT NMS
Plan requirements obligating the SROs to collect social security
numbers (``SSNs'') and/or individual tax payer identification
numbers (``ITINs''), dates of birth, and account numbers associated
with natural persons); Securities Exchange Act Release No. 102386
(Feb. 10, 2025), 90 FR 9642, 9643 (Feb. 14, 2025) (the ``2025 PII
Exemptive Relief Order'') (providing conditional exemptive relief
from CAT NMS Plan requirements obligating the SROs to collect names,
addresses, and years of birth for U.S. natural persons); Securities
Exchange Act Release No. 104586 (Jan. 13, 2026), 91 FR 2164 (Jan.
16, 2026) (the ``CAIS Order'') (codifying the 2020 PII Exemptive
Relief Order and the 2025 PII Exemptive Relief Order and, among
other things, enabling the SROs to eliminate: (1) historical
customer and account-level data, including, among other things,
names, addresses, and years of birth, (2) names, addresses, and
years of birth (where applicable) for foreign natural persons, for
legal entities, and for authorized traders, and (3) employer
identification numbers).
\5\ See, e.g., Securities Exchange Act Release No. 104144 (Sept.
30, 2025), FR 90 47853, 47854-55 (Oct. 2, 2025) (providing exemptive
relief from certain requirements related to data storage and
retention); Securities Exchange Act Release No. 105107 (Mar. 27,
2026), 91 FR 16284, 16307 (Apr. 1, 2026) (approving amendments to
the CAT NMS Plan that permit the SROs to: (1) delete all CAT Data
older than three years; (2) delete options market maker quotes on
Listed Options older than six months; (3) delete Interim Operational
Data older than 15 days; and (4) delete Options SIP Data older than
six months).
---------------------------------------------------------------------------
This Notice addresses both the ongoing information collection
requirements noted above, the remaining information collection
requirements contained in the CAT NMS Plan Notice, and certain
additional information collections of the CAT NMS Plan Order, which
includes an assessment of the projected impact of any Material Systems
Change on the Maximum Error Rate, prior to the implementation of such
Material Systems Change from the Participants.\6\
---------------------------------------------------------------------------
\6\ Id. at 84942. The Commission believes that one assessment
would be filed annually.
---------------------------------------------------------------------------
The CAT NMS Plan, which governs the CAT, improves the quality of
the data available to regulators in four areas that affect the ultimate
effectiveness of core regulatory efforts--completeness, accuracy,
accessibility and timeliness.\7\ The improvements in these data
qualities substantially improve regulators' ability to perform analysis
and reconstruction of market events, and market analysis and research
to inform policy decisions, as well as perform regulatory activities,
in particular market surveillance, examinations, investigations, and
other enforcement functions.
---------------------------------------------------------------------------
\7\ See CAT NMS Plan Order, supra note 3, at 45727 (discussing
four ``qualities'' of trade and order data that impact the
effectiveness of core Participant and Commission regulatory efforts:
accuracy, completeness, accessibility, and timeliness).
---------------------------------------------------------------------------
The Commission estimates that 1,199 respondents \8\ will require an
aggregate total of approximately 4,122,488 hours per year to comply
with the collection of information. The Commission further estimates
that the aggregate cost to comply with the collection of information
will be approximately $384,727,051 per year.
---------------------------------------------------------------------------
\8\ The Commission notes that 27 Participants (the 26 national
securities exchanges and one national securities association) and
1,172 broker-dealers are subject to information collection
requirements pursuant to Rule 613 and the CAT NMS Plan.
---------------------------------------------------------------------------
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid OMB Control Number.
The public may view and comment on this information collection
request at: <a href="https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202607-3235-010">https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202607-3235-010</a> or email comment to
<a href="/cdn-cgi/l/email-protection#6d202f354322202f4322243f2c433e282e3209081e0632020b0b040e081f2d02000f4308021d430a021b"><span class="__cf_email__" data-cfemail="f1bcb3a9dfbebcb3dfbeb8a3b0dfa2b4b2ae9594829aae9e979798929483b19e9c93df949e81df969e87">[email protected]</span></a> within 30 days of the day
after publication of this notice, by October 26, 2026.
Dated: September 22, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-19620 Filed 9-24-26; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on September 25, 2026.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.