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

Forms and Documents

Document Name	Status
Rule 302 Suporting Statement 2016.pdf Supporting Statement A	2016-08-18

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: 201604-3235-005
Status: Historical Active	Previous ICR Reference No: 201305-3235-005
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: 11/23/2016
	Date Received in OIRA: 08/18/2016
Terms of Clearance: As a note, the 23,920 listed as current annual number of responses in the ICR burden chart within ROCIS is a typographical error; the number should be 92, as reflected in the narrative statement below the chart and in the supporting statement submitted into the system. The OIRA review was completed on the basis of the change from 92 to 84 respondents, rather than 23,920 to 84.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2019	36 Months From Approved	11/30/2016
Responses	84	0	23,920
Time Burden (Hours)	3,780	0	11,960
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:
	81 FR 26294	05/02/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 44357	07/07/2016
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	84	23,920	0	0	-23,836	0
Annual Time Burden (Hours)	3,780	11,960	0	0	-8,180	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 hour burden associated with Rule 302 of Regulation ATS has decreased from 11,960 to 3780 hours per year as a result of a decrease in the SEC’s estimate of the number of ATSs from 92 to 84 as well as a decrease in the estimated work burden on the Compliance Clerk from 0.5 hours/day to 45 hours/year. This decrease is due to the recognition that the processes today to capture and maintain records are now more automated amongst most ATSs and is therefore less time-consuming.

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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: 08/18/2016

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