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
days closing price for the covered security as determined by the
covered securitys 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.
The estimated time burden
associated with new non-SRO trading centers establishing,
maintaining, and enforcing written policies and procedures
increased from 800 hours per year to 1,600 hours per year because
the estimated number of such respondents increased from 5 per year
to 10 per year. The estimated time burden of all trading centers
assuring that their written policies and procedures are up-to-date
decreased from125,928 hours per year to 108,900 hours per year
because the estimated number of such respondents decreased from 318
to 275. The estimated time burden of all broker-dealers assuring
that their written policies and procedures are up-to-date decreased
from 1,648,152 hours per year to 1,506,780 hours per year because
the estimated number of such respondents decreased from 4,162 to
3,805. The estimated time burden associated with the broker-dealer
marking requirements has decreased because the estimated number of
such respondents decreased from 4,162 to 3,805 and the estimated
number of short exempt transactions per respondent decreased. In
addition, the estimated time burden for the marking requirements
decreased because it was incorrectly calculated in the prior PRA
extension. The estimated cost burden associated with new non-SRO
trading centers establishing, maintaining, and enforcing written
policies and procedures increased from $100,000 per year to
$200,000 hours per year because the estimated number of such
respondents increased from 5 per year to 10 per year.
No
No
No
No
No
No
Uncollected
Laura Gold 202 551-6508
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.
3235-0670 30 Day Notice.pdf
"Short exempt" marking requirement