[Federal Register: May 16, 2007 (Volume 72, Number 94)]
[Notices]               
[Page 27601]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr16my07-114]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Filings and Information Services, Washington, DC 
20549.

Extension:
    Rule 19b-5 and Form PILOT; SEC File No. 270-448; OMB Control No. 
3235-0507.

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') is soliciting comments on the collection of 
information summarized below. The Commission plans to submit this 
existing collection of information to the Office of Management and 
Budget for extension and approval.
    Rule 19b-5 (17 CFR 240.19b-5) provides a temporary exemption from 
the rule-filing requirements of Section 19(b) of the Securities 
Exchange Act of 1934 (``Act'') to self-regulatory organizations 
(``SROs'') wishing to establish and operate pilot trading systems. Rule 
19b-5 permits an SRO to develop a pilot trading system and to begin 
operation of such system shortly after submitting an initial report on 
Form PILOT to the Commission. During operation of the pilot trading 
system, the SRO must submit quarterly reports of the system's operation 
to the Commission, as well as timely amendments describing any material 
changes to the system. After two years of operating such pilot trading 
system under the exemption afforded by Rule 19b-5, the SRO must submit 
a rule filing pursuant to Section 19(b)(2) of the Act in order to 
obtain permanent approval of the pilot trading system from the 
Commission.
    The collection of information is designed to allow the Commission 
to maintain an accurate record of all new pilot trading systems 
operated by SROs and to determine whether an SRO has properly availed 
itself of the exemption afforded by Rule 19b-5.
    The respondents to the collection of information are SROs, as 
defined by the Act, including national securities exchanges and 
national securities associations.
    Six respondents file an average total of 6 initial reports (for a 
144 hour estimated annual burden), 24 quarterly reports (for a 72 hour 
estimated annual burden), and 12 amendments per year (for a 36 hour 
estimated annual burden), with an estimated total annual response 
burden of 252 hours. At an average hourly cost of $51.71, the aggregate 
related cost of compliance with Rule 19b-5 for all respondents is 
$13,030 per year (252 burden hours multiplied by $51.71/hour = 
$13,030).
    Written comments are invited on (a) Whether the proposed collection 
of information is necessary for the proper performance of the functions 
of the agency, including whether the information shall have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
proposed collection of information; (c) ways to enhance the quality, 
utility, and clarity of the information to be collected; and (d) ways 
to minimize the burden of the collection of information on respondents, 
including through the use of automated collection techniques or other 
forms of information technology. Consideration will be given to 
comments and suggestions submitted in writing within 60 days of this 
publication.
    Comments should be directed to R. Corey Booth, Director/Chief 
Information Officer, Securities and Exchange Commission, C/O Shirley 
Martinson, 6432 General Green Way, Alexandria, Virginia 22312 or send 
an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 
60 days of this notice.

    Dated: May 9, 2007.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-9372 Filed 5-15-07; 8:45 am]

BILLING CODE 8010-01-P