Rule 613 -- Consolidated Audit Trail

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Supporting Statement (July 6 2012).docx	Supporting Statement A	Uploaded 2012-08-01	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
194273	Creation and Filing of NMS Plan		New

ICR Details

OMB Control No: 3235-0671	ICR Reference No: 201208-3235-001
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No: TM-270-616
Title: Rule 613 -- Consolidated Audit Trail
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/05/2012
	Date Received in OIRA: 08/01/2012
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2015	36 Months From Approved
Responses	17	0	0
Time Burden (Hours)	15,640	0	0
Cost Burden (Dollars)	113,333	0	0

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Abstract: Rule 613 requires the sixteen national securities exchanges and one national securities association to develop and file a national market system ("NMS") plan to govern the creation, implementation and maintenance of a consolidated audit trail and central repository for the collection of information for NMS securities. The NMS plan must require each SRO and its respective members to provide certain data to the central repository in compliance with Rule 613. The NMS plan also must include a discussion of specified considerations, and certain provisions related to administration and operation of the NMS plan and the operation of the central repository. Further, the NMS plan is required to include certain provisions related to compliance by the SROs and their members with the requirements of the Rule and the NMS plan.

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Authorizing Statute(s): US Code: 15 USC 78k-1(a)(3)(B) Name of Law: Section 11A(a)(3)(B)
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK51	Final or interim final rulemaking	76 FR 45271	08/01/2012

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Creation and Filing of NMS Plan

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ICR Summary of Burden

table that charts list 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	17	0	0	17	0	0
Annual Time Burden (Hours)	15,640	0	0	15,640	0	0
Annual Cost Burden (Dollars)	113,333	0	0	113,333	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: In light of the modifications to the proposed Rule, the Commission is increasing substantially its estimated annual time burden needed for the development and filing of the NMS plan. The Commission also is adjusting its preliminary time burden estimates for the preparation and filing of an NMS plan to reflect the registration of two additional SROs after it issued the preliminary estimates. Most significantly, the adopted Rule, at this stage, requires one information collection – the creation and filing of an NMS plan – versus seven information collections which were detailed in the information collection submission for the proposed Rule. As noted above, the Commission is deferring its economic analysis of the consolidated audit trail (other than with respect to the NMS plan) until after the NMS plan, including the detailed information and analysis, has been submitted by the SROs and there has been an opportunity for public comment. Similarly, the Commission is deferring its discussion of the much more significant time burden associated with the other paperwork requirements of the consolidated audit trail. The Commission also is deferring its discussion of the ongoing burden hours associated with the NMS plan because such ongoing burdens would only be incurred if the Commission approves the NMS plan. Instead, the Commission will defer these discussions until after the NMS plan, including the detailed information and analysis, has been submitted by the SROs and there has been an opportunity for public comment.

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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: 08/01/2012

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