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 (âNMSâ) 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 âcompeting consolidatorsâ would assume responsibility for the collection, consolidation, and dissemination functions currently performed by the exclusive Securities Information Processors (âSIPsâ). Among other things, the Proposal would expand the definition of âSCI entityâ 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.
Recordkeeping required by Rules 1005 and 1007 - ongoing burden