Rule 19b-5 and Form PILOT

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC 2552 Form PILOT	Form and Instruction	Modified	Available
Form SEC 2552 Pilot Trading System Rule Filing Requirements (Initial Reports)	Form and Instruction	Modified	Repair queued
TM Emergency Request Memo FINAL 3235-0507 Rule 19b-5 and Form PILOT SIGNED dlb.pdf	Supplementary Document	Uploaded 2022-11-15	Repair queued
DGL REVISED Rule 19b-5 2022 supporting stmt.pdf	Supporting Statement A	Uploaded 2022-04-15	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
35281	Pilot Trading System Rule Filing Requirements (Initial Reports)	Form and Instruction	Modified	Form PILOT
35281	Pilot Trading System Rule Filing Requirements (Initial Reports)	Form and Instruction	Modified
193363	Pilot Trading System Rule Filing Requirements (Material System Changes)		Modified
193362	Pilot Trading System Rule Filing Requirements (Quarterly Reports)		Modified

ICR Details

OMB Control No: 3235-0507	ICR Reference No: 202204-3235-005
Status: Historical Active	Previous ICR Reference No: 201903-3235-035
Agency/Subagency: SEC	Agency Tracking No: TM-270-448
Title: Rule 19b-5 and Form PILOT
Type of Information Collection: Reinstatement without change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 04/30/2023
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/18/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/15/2022
Terms of Clearance: In response to the emergency request memorandum submitted by the SEC on 11/15/2022, OIRA is approving the Commission's request for emergency approval of this OMB control number for a period of six months. This action is necessary to reinstate this OMB control number. Prior to the expiration of this package in six months, SEC shall undertake standard PRA notice and comment procedures.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2023	6 Months From Approved
Responses	7	0	0
Time Burden (Hours)	42	0	0
Cost Burden (Dollars)	4,000	0	0

---

Abstract: Rule 19b-5 permits a self-regulatory organization (SRO) to operate a pilot trading system, under certain conditions, for two years without submitting a proposed rule change to the Commission pursuant to Rule 19b-4. SROs availing themselves of Rule 19b-5 are required to file a Form PILOT at least 20 days before com- mencing operation of the system. SROs are also required to file notices of material systems changes and quarterly activity re- ports on Form PILOT.

Emergency Justfication: The SEC’s Internal Sharepoint System that they use to track and process all of their PRA’s failed resulting in the 30 and 60 Day Notices not being sent to the Federal Register for timely Publishing, therefore the ICR Expiration Date was missed. An Emergency Reinstatement Request Memo signed by the CIO is attached to this Submission. Please reach out for any questions, concerns. Thank You. – John Pezzullo (SEC (202) 551-8118

---

Authorizing Statute(s): US Code: 17 USC 78s(b) Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 3

table that charts list of burden

IC Title	Form No.	Form Name
Pilot Trading System Rule Filing Requirements (Initial Reports)	SEC 2552	Form PILOT
Pilot Trading System Rule Filing Requirements (Material System Changes)
Pilot Trading System Rule Filing Requirements (Quarterly Reports)

---

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	7	0	0	0	-14	21
Annual Time Burden (Hours)	42	0	0	0	-84	126
Annual Cost Burden (Dollars)	4,000	0	0	0	-6,670	10,670

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 estimated burden hours decreased by a factor of three from 126 hours to 42 hours. Based on recent experience, the SEC has reduced its estimate of the number of respondents from three (3) per year to one (1) per year, resulting in a proportionate uniform reduction in the burden hours. The estimated costs decreased by $6,670 from $10,670 to $4,000. The decrease is due to the reduction in the estimated number of respondents from three (3) to one (1). The costs did not decrease by a full factor of three however because of an increase in the per respondent cost estimates due to inflation.

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

---

Common Form ICR:  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:

(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: 11/15/2022

---