Rules 201 and 200(g)

Forms and Documents

Document Name	Status
Supporting Stmt for Rules 201 and 200(g).pdf Supporting Statement A	2013-11-25

IC Document Collections

IC ID	Document Title	Status
208821	"Short exempt" marking requirment	New
208820	Outside legal costs to establish written policies & procedures per 201(c) & riskless principal provisions of 201(d)(6)	New
208819	Outside legal work for trading centers to establish policies and procedures	New
208818	"Short exempt" marking requirement	New
208817	All b-d's ensuring their policies & procedures are up-to-date	New
208816	One-time burden for new b-d's to establish policies & procedures under 201(c) and 201(d)(6)	New
194114	All trading centers ensuring their written policies are up-to-date	Modified
194113	New non-SRO trading centers registering	Modified
192813	New SRO trading centers registering with Commission	Modified

ICR Details

OMB Control No: 3235-0670	ICR Reference No: 201309-3235-011
Status: Historical Active	Previous ICR Reference No: 201005-3235-005
Agency/Subagency: SEC	Agency Tracking No: TM-270-606
Title: Rules 201 and 200(g)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/21/2014
	Date Received in OIRA: 11/25/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2017	36 Months From Approved	01/31/2014
Responses	120,405,042	0	12,900,065,142
Time Burden (Hours)	2,029,275	0	4,904,520
Cost Burden (Dollars)	65,928,700	0	287,570,000

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Abstract: Rule 201 is a short sale-related circuit breaker rule that, when triggered by an intra-day decline in the price of a covered security of 10% or more from the prior day’s closing price for the covered security as determined by the covered security’s listing market, will apply for the remainder of the day and the following day a price test restriction that restricts short sales at or below the current national best bid for the particular covered security. Rule 200(g) will add a new marking requirement of “short exempt.” In particular, if the broker-dealer chooses to rely on its own determination that it is submitting the short sale order to the trading center at a price that is above the current national best bid at the time of the submission, or to rely on an exception specified in the rule, it must mark the order as “short exempt.”

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Authorizing Statute(s): US Code: 15 USC 78b, 78c(b), 78f, 78i(h), 78j Name of Law: Sections 2, 3(b), 6, 9(h), 10 of the Exchange Act
   US Code: 15 USC 78k-1, 78o, 78o-3, 78q, 78q-1 Name of Law: Sections 11A, 15, 15A, 17, 17A of the Exchange Act
   US Code: 15 USC 78s and 78w(a) Name of Law: Sections 19 and 23(a) of the Exchange Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 60335	10/01/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 69714	11/20/2013
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
All b-d's ensuring their policies & procedures are up-to-date
"Short exempt" marking requirement
New SRO trading centers registering with Commission
All trading centers ensuring their written policies are up-to-date
New non-SRO trading centers registering
Outside legal work for trading centers to establish policies and procedures
Outside legal costs to establish written policies & procedures per 201(c) & riskless principal provisions of 201(d)(6)
"Short exempt" marking requirment
One-time burden for new b-d's to establish policies & procedures under 201(c) and 201(d)(6)

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ICR Summary 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	120,405,042	12,900,065,142	0	0	-12,779,660,100	0
Annual Time Burden (Hours)	2,029,275	4,904,520	0	0	-2,875,245	0
Annual Cost Burden (Dollars)	65,928,700	287,570,000	0	0	-221,641,300	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The burden changed because we updated the estimated number of trading centers, broker-dealers, and annual "short exempt" orders, and we adjusted the estimated implementation costs for inflation.

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Annual Cost to Federal Government:

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: 11/25/2013

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