Dissemination of Quotations -- Rule 602 of Regulation NMS

ICR 201007-3235-026

OMB: 3235-0461

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2010-11-22
ICR Details
3235-0461 201007-3235-026
Historical Active 200912-3235-028
SEC TM-270-404
Dissemination of Quotations -- Rule 602 of Regulation NMS
Revision of a currently approved collection   No
Regular
Approved with change 11/23/2010
Retrieve Notice of Action (NOA) 08/18/2010
Agency modified burden estimates to address inconsistencies.
  Inventory as of this Action Requested Previously Approved
11/30/2013 36 Months From Approved 01/31/2013
24,440,015 0 246,788,005
24,117 0 205,486
0 0 66,000

This disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each “subject security,” as defined under the Rule. Rule 602 of Regulation NMS contains two related collections of information. The first collection of information is found in Rule 602(a). This disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each “subject security,” as defined under the Rule. The second collection of information is found in Rule 602(b). This disclosure requirement obligates exchange members and over-the-counter (“OTC”) market makers that are a “responsible broker or dealer,” as defined under the Rule, to communicate to an exchange or association their best bids, best offers, and quotation sizes for subject securities.

US Code: 15 USC 78a Name of Law: Securities Exchange Act of 1934
  
None

Not associated with rulemaking

  71 FR 55036 09/20/2006
71 FR 70445 12/11/2006
No

2
IC Title Form No. Form Name
Dissemination of Quotations in NMS Securities - Rule 602(a)
Dissemination of Quotations in NMS Securities -- Rule 602(b)

  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 24,440,015 246,788,005 0 15 -222,348,005 0
Annual Time Burden (Hours) 24,117 205,486 0 3,750 -185,119 0
Annual Cost Burden (Dollars) 0 66,000 0 0 -66,000 0
Yes
Changing Regulations
No
This disclosure requirement obligates each national securities exchange and national securities association to make available to quotation vendors for dissemination to the public the best bid, best offer, and aggregate quotation size for each “subject security,” as defined under the Rule. Rule 602(a) concerns reports made by a Self-Regulatory Organization (SRO) to quotation vendors. Rule 602(b) concerns reports made by exchange members and Over-the-counter (OTC) market makers to the SRO. The revised collection now has two collections associated with it. Previously Rule 602(a) had less than ten responses and was not subject to PRA. The decrease of 181,368 hours for Rule 602(b) is due changes in automation for disclosures. Additionally, the $66,000 cost reported in the prior submission was reported in error.

$0
No
No
No
No
No
Uncollected
Nicholas Shwayri 2025515667

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
08/18/2010


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