[Federal Register Volume 61, Number 197 (Wednesday, October 9, 1996)]
[Notices]
[Pages 52978-52979]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-25922]
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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,
D.C. 20549
Existing Collection of Information:
Rule 10a-1, SEC File No. 270-413, OMB Control No. 3235-new
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 approval of a collection currently in use on
the following rule.
Rule 10a-1 (17 CFR 240.10a-1) under the Securities Exchange Act of
1934 (``Exchange Act'') is intended to limit short selling of a
security in a declining market, by requiring, in effect, that each
successive lower price be established by a long seller. The price at
which short sales may be effected is established by reference to the
last sale price reported in the consolidated system or on a
[[Page 52979]]
particular marketplace. Rule 10a-1 requires each broker or dealer that
effects any sell order for a security registered on, or admitted to
unlisted trading privileges, on a national securities exchange to mark
the relevant order ticket either ``long'' or ``short.''
There are approximately 1,500 brokers and dealers registered with
the national securities exchanges. The Commission has considered each
of these respondents for the purposes of calculating the reporting
burden under Rule 10a-1. Each of these approximately 1,500 registered
broker-dealers effects sell orders for securities registered on, or
admitted to unlisted trading privileges, on a national securities
exchange. In addition, each respondent makes an estimated 55,663 annual
responses, for an aggregate total of 83,493,861 responses per year.
Each response takes approximately .000143 hours to complete. Thus, the
total compliance burden per year is 11,902 burden hours.
General comments regarding the estimated burden hours should be
directed to the Desk Officer for the Securities and Exchange Commission
at the address below. Any comments concerning the accuracy of the
estimated average burden hours for compliance with Commission rules and
forms should be directed to Michael E. Bartell, Associate Executive
Director, Office of Information Technology, Securities and Exchange
Commission, 450 5th Street, N.W. Washington, DC 20549 and Desk Officer
for the Securities and Exchange Commission, Office of Information and
Regulatory Affairs, Office of Management and Budget, Room 3208, New
Executive Office Building, Washington, D.C. 20503.
Dated: October 3, 1996.
Jonathan G. Katz,
Secretary.
[FR Doc. 96-25922 Filed 10-8-96; 8:45 am]
BILLING CODE 8010-01-M
