Regulation SCI would update and
formalize a regulatory framework for ensuring that the U.S.
securities trading markets develop and maintain systems with
adequate capacity, integrity, resiliency, availability, and
security, and reinforce the requirement that such systems operate
in compliance with relevant laws and rules. Regulation SCI is
intended to advance the goals of the national market system by
enhancing the capacity, integrity, resiliency, availability, and
security of the automated systems of entities important to the
functioning of the U.S. securities markets, and reinforce the
requirement that such systems operate in compliance with the
Exchange Act and relevant rules. The Commission recently proposed
to update the national market system for the collection,
consolidation, and dissemination of information with respect to
quotations for and transactions in national market system (“NMS”)
stocks. Specifically, the Proposal would expand the content of the
information with respect to quotations for and transactions in NMS
stocks that must be made available under Regulation NMS and
introduce a decentralized consolidation model whereby “competing
consolidators” would assume responsibility for the collection,
consolidation, and dissemination functions currently performed by
the exclusive Securities Information Processors (“SIPs”). Among
other things, the Proposal would expand the definition of “SCI
entity” to include competing consolidators, so that all competing
consolidators would be subject to Regulation SCI.
The Commission recently adopted
amendments to Reg. SCI that increases some of the burdens. These
changes are described in more detail in Item 15 of the Supporting
Statement.
$180,000
No
No
No
No
No
No
No
Sara Gillis 2025515523
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.