Rule 302 (17 CFR 242.302) Recordkeeping Requirements for Alternative Trading Systems

Forms and Documents

Document Name	Status
2010 Rule 302 Suporting Statement.doc Supporting Statement A	2010-06-18

IC Document Collections

IC ID	Document Title	Status
35290	Rule 302 (17 CFR 242.302) Recordkeeping Requirements for Alterna- tive Trading Systems	Modified

ICR Details

OMB Control No: 3235-0510	ICR Reference No: 201006-3235-008
Status: Historical Active	Previous ICR Reference No: 200706-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM-270-453
Title: Rule 302 (17 CFR 242.302) Recordkeeping Requirements for Alternative Trading Systems
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/15/2010
	Date Received in OIRA: 09/08/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2013	36 Months From Approved	02/28/2011
Responses	21,060	0	65
Time Burden (Hours)	10,530	0	2,340
Cost Burden (Dollars)	0	0	0

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Abstract: Rule 302 provides that, as a condition of operating as a broker- dealer, alternative trading systems must keep certain records regarding subscribers to their system, daily trading summaries and time-sequenced records of order information in the alternative trading systems.

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Authorizing Statute(s): US Code: 15 USC 78a Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 38854	07/06/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 54197	09/03/2010
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Rule 302 (17 CFR 242.302) Recordkeeping Requirements for Alterna- tive Trading Systems

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	21,060	65	0	0	20,995	0
Annual Time Burden (Hours)	10,530	2,340	0	0	8,190	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated burdens associated with Rule 302 of Regulation ATS have increased as a result of an increase in the SEC’s estimate of the burden under Rule 302 and an increase in the number of ATSs. The SEC’s estimate of the burden under Rule 302 has increased from 36 hours per ATS per year to 130 hours per ATS per year. In addition, since the previous filing, the number of ATSs has increased from 65 to 81. For these reasons the total burden under Rule 302 has increased from 2,340 to 10,530 hours per year, and the related cost has increased from $202,504 to $621,270 per year. The estimate of total annualized cost has been reduced to zero, as the cost information previously included in Item 13 in the SEC’s 2007 PRA Submission actually reflected the cost of the burden measured in hours (as set forth in Item 12) and was, therefore, being “double counted.” The SEC has updated its PRA assessment since the 2007 PRA Submission to recognize that Rule 302 requires each ATS to make and keep daily summaries of trading in the ATS (rather than annual reports, as previously reported in the 2007 PRA Submission). Accordingly, the number of responses per ATS per year was increased to 260 to reflect the number of business days in a year, rather than one time per year as was reported previously. Therefore, the number of responses by all respondents per year has increased from 65 to 21,060.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/08/2010

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