[Federal Register Volume 64, Number 197 (Wednesday, October 13, 1999)]
[Notices]
[Page 55499]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-26619]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Filings and Information Services, Washington, DC
20549
Extension:
Rule 11a1-1(T), SEC File No. 270-428, OMB Control No. 3235-0478
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission
(``Commission'') has submitted to the Office of Management and Budget a
request for extension of the previously approved collection of
information discussed below.
Rule 11a1-1(T)--Transaction Yielding Priority, Parity, and
Precedence
On January 27, 1976, the Commission adopted Rule 11a1-1(T) under
the Securities Exchange Act of 1934 (``Exchange Act'') to exempt
transactions of exchange members for their own accounts that would
otherwise be prohibited under Section 11(a) of the Exchange Act. The
rule provides that a member's proprietary order may be executed on the
exchange of which the trader is a member, if, among other things: (1)
The member discloses that a bid or offer for its account is for its
account to any member with whom such bid or offer is placed or to whom
it is communicated; (2) any such member through whom that bid or offer
is communicated discloses to others participating in effecting the
order that is for the account of a member; and (3) immediately before
executing the order, a member (other than a specialist in such
security) presenting any order for the account of a member on the
exchange clearly announces or otherwise indicates to the specialist and
to other members then present that he is presenting an order for the
account of a member.
There are approximately 1,000 respondents that require an aggregate
total of 333 hours to comply with this rule. Each of these
approximately 1,000 respondents makes an estimated 20 annual responses,
for an aggregate of 20,000 responses per year. Each response takes
approximately 1 minute to complete. Thus, the total compliance burden
per year is 333 hours (20,000 minutes/60 minutes per hour = 333 hours).
The approximate cost per hour is $100, resulting in a total cost of
compliance for the respondents of $33,333 (333 hours @ $100).
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 control number.
Written comments regarding the above information should be directed
to the following persons: (i) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503; and (ii) Michael E. Bartell, Associate
Executive Director, Office of Information Technology, Securities and
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549.
Comments must be submitted to OMB within 30 days of this notice.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-26619 Filed 10-12-99; 8:45 am]
BILLING CODE 8010-01-M
