Rules 201 and 200(g)

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
3235-0670.pdf	Supplementary Document	Uploaded 2023-01-30	Repair queued
3235-0670.pdf	Supplementary Document	Uploaded 2023-01-30	Repair queued
3235-0670 30 Day Notice.pdf	Supplementary Document	Uploaded 2019-12-17	Repair queued
3235-0670 60 day notice.pdf	Supplementary Document	Uploaded 2019-12-17	Available
2022 Supporting Stmt for Rules 201 and 200(g).pdf	Supporting Statement A	Uploaded 2022-10-17	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
208818	"Short exempt" marking requirement		Modified
208817	All b-d's ensuring their policies & procedures are up-to-date		Modified
194114	All trading centers ensuring their written policies are up-to-date		Modified
194113	New non-SRO trading centers registering		Modified
192813	New SRO trading centers registering with Commission		Modified

ICR Details

OMB Control No: 3235-0670	ICR Reference No: 202207-3235-016
Status: Historical Active	Previous ICR Reference No: 201906-3235-015
Agency/Subagency: SEC	Agency Tracking No: TM-270-606
Title: Rules 201 and 200(g)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/18/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/30/2023
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2026	36 Months From Approved	04/30/2023
Responses	7,540	0	7,896
Time Burden (Hours)	1,556,049	0	1,621,571
Cost Burden (Dollars)	370,933	0	220,000

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Abstract: 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 day’s closing price for the covered security as determined by the covered security’s 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.”

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Authorizing Statute(s): US Code: 15 USC 78b, 78c(b), 78f, 78i(h), 78j Name of Law: Sections 2, 3(b), 6, 9(h), 10 of the Exchange Act
   US Code: 15 USC 78s and 78w(a) Name of Law: Sections 19 and 23(a) of the Exchange Act
   US Code: 15 USC 78k-1, 78o, 78o-3, 78q, 78q-1 Name of Law: Sections 11A, 15, 15A, 17, 17A of the Exchange Act
  

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:
	87 FR 64278	10/24/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 5941	01/30/2023
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 5

table that charts list of burden

IC Title	Form No.	Form Name
"Short exempt" marking requirement
All b-d's ensuring their policies & procedures are up-to-date
All trading centers ensuring their written policies are up-to-date
New SRO trading centers registering with Commission
New non-SRO trading centers registering

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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	7,540	7,896	0	0	-356	0
Annual Time Burden (Hours)	1,556,049	1,621,571	0	0	-65,522	0
Annual Cost Burden (Dollars)	370,933	220,000	0	0	150,933	0

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 time burden associated with new non-SRO trading centers establishing, maintaining, and enforcing written policies and procedures increased from 1,600 hours per year to 2,720 hours per year because the estimated number of such respondents increased from 10 per year to 17 per year. The estimated time burden of all trading centers assuring that their written policies and procedures are up-to-date decreased from 108,900 hours per year to 102,960 hours per year because the estimated number of such respondents decreased from 275 to 260. The estimated time burden of all broker-dealers assuring that their written policies and procedures are up-to-date decreased from 1,506,780 hours per year to 1,437,876 hours per year because the estimated number of such respondents decreased from 3,805 to 3,631. The estimated time burden associated with the broker-dealer marking requirements has increased because the estimated number of short exempt transactions increased from 29.5 million to 88.25 million, resulting in an increase in the estimated number of short exempt transactions per respondent from 7,749 to 24,305.

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Annual Cost to Federal Government:

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

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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: 01/30/2023

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