Rule 613 - Consolidated Audit Trail-Filing a National Market System Plan

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Rule 613 Supporting Statement FINAL - 10-26-15 (extension).pdf	Supplementary Document	Uploaded 2016-08-09	Available
CAT NMS Plan Notice Supporting Statement - Final - 8-8-16.docx	Supporting Statement A	Uploaded 2016-08-08	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
222887	Non-OATS-Reporting Broker-Dealers		New
222886	Data Collection and Reporting - Small OATS-Reporting Broker-Dealers		New
222885	Data Collection and Reporting - Large OATS-Reporting Broker-Dealers		New
222884	Data Collection and Reporting - Large Non-OATS-Reporting Broker-Dealers		New
222883	Document on Expansion to Other Securities		New
222882	Written Assessment of Operation of the Consolidated Audit Trail		New
222881	Surveillance		New
222880	Data Collection and Reporting - Participants		New
222879	Central Repository		New
194273	Creation and Filing of NMS Plan		Unchanged

ICR Details

OMB Control No: 3235-0671	ICR Reference No: 201608-3235-003
Status: Historical Active	Previous ICR Reference No: 201507-3235-009
Agency/Subagency: SEC	Agency Tracking No: TM-270-616
Title: Rule 613 - Consolidated Audit Trail-Filing a National Market System Plan
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/22/2016
	Date Received in OIRA: 08/09/2016
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2019	36 Months From Approved	12/31/2018
Responses	1,919	0	19
Time Burden (Hours)	8,282,637	0	17,480
Cost Burden (Dollars)	540,792,490	0	126,667

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Abstract: Rule 613 requires the national securities exchanges and national securities association ("Participants") 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 Participants filed the NMS plan required by Rule 613 ("CAT NMS Plan"). This PRA contains the information collections required by Rule 613, as informed by the data provided in the CAT 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) - National market system for securities; securities information processors
  

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:
	81 FR 30613	04/27/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 30613	04/27/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 10

table that charts list of burden

IC Title	Form No.	Form Name
Data Collection and Reporting - Participants
Surveillance
Written Assessment of Operation of the Consolidated Audit Trail
Document on Expansion to Other Securities
Data Collection and Reporting - Large Non-OATS-Reporting Broker-Dealers
Data Collection and Reporting - Large OATS-Reporting Broker-Dealers
Data Collection and Reporting - Small OATS-Reporting Broker-Dealers
Non-OATS-Reporting Broker-Dealers
Creation and Filing of NMS Plan
Central Repository

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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	1,919	19	0	1,900	0	0
Annual Time Burden (Hours)	8,282,637	17,480	0	8,265,157	0	0
Annual Cost Burden (Dollars)	540,792,490	126,667	0	540,665,823	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: The Commission notes that when it adopted Rule 613, it discussed the burden hours associated with the development and submission of the CAT NMS Plan only. In doing so, the Commission noted that the development and submission of the CAT NMS Plan that would govern the creation, implementation and maintenance of a consolidated audit trail is a multi-step process and accordingly that the Commission was deferring its discussion of the burden hours associated with the other paperwork requirements required by Rule 613 and ongoing burdens since they would only be incurred if the Commission approves the CAT NMS Plan. The estimates are based on the requirements of Rule 613 and take into account the Exemption Order. Information and estimates contained in the CAT NMS Plan that was submitted by the Participants also informed these estimates because they provide a useful, quantified point of reference regarding potential burdens and costs. The Commission acknowledges that the CAT NMS Plan filed by the Participants contains provisions in addition to those required by the Commission in Rule 613 (e.g., requiring the inclusion of OTC Equity Securities; the availability of historical data for not less than six years in a manner that is directly available and searchable without manual intervention from the Plan Processor; a complete symbology database to be maintained by the Plan Processor, including the historical symbology; as well as issue symbol information and data using the listing exchange symbology format).

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Annual Cost to Federal Government: $250,000

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: 08/09/2016

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