[Federal Register Volume 61, Number 105 (Thursday, May 30, 1996)]
[Notices]
[Pages 27109-27110]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-13458]
=======================================================================
-----------------------------------------------------------------------
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 11Ab2-1 and Form SIP; SEC File No. 270-23; OMB Control No.
3235-0043.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. Secs. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget requests for approval of extension on the following rule and
form: Rule 11Ab2-1 and Form SIP.
Rule 11Ab2-1 and Form SIP establish the procedures by which a
Securities Information Processor (``SIP'') files and amends its SIP
registration form. The information filed with the Commission pursuant
to Rule 11Ab2-1 and Form SIP is designed to provide the Commission with
the information necessary to make the required findings under the Act
before granting the SIP's application for registration. In addition,
the requirement that a SIP file an amendment to correct any inaccurate
information is designed to assure that the Commission has current,
accurate information with respect to the SIP. This information is also
made available to members of the public.
Only exclusive SIPs are required to register with the Commission.
An exclusive SIP is a SIP which engages on an exclusive basis on behalf
of any national securities exchange or registered securities
association, or any national securities exchange or
[[Page 27110]]
registered securities association which engages on an exclusive basis
on its own behalf, in collecting, processing, or preparing for
distribution or publication, any information with respect to (i)
transactions or quotations on or effected or made by means of any
facility of such exchange or (ii) quotations distributed or published
by means of any electronic quotation system operated by such
association. The federal securities laws require that before the
Commission may approve the registration of an exclusive SIP, it must
make certain mandatory findings. It takes a SIP applicant approximately
400 hours to prepare documents which include sufficient information to
enable the Commission to make those findings. Currently, there are only
two exclusive SIPs registered with the Commission; The Securities
Information Automation Corporation (``SIAC'') and the National
Association of Securities Dealers, Inc. (``NASD''). SIAC and the NASD
are required to keep the information on file with the Commission
current, which entails filing a form SIP annually to update
information.
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 Fifth Street, N.W., Washington, D.C. 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: May 22, 1996.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-13458 Filed 5-29-96; 8:45 am]
BILLING CODE 8010-01-M
