[Federal Register Volume 75, Number 56 (Wednesday, March 24, 2010)]
[Notices]
[Page 14216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-6504]
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SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: U.S. Securities and
Exchange Commission, Office of Investor Education and Advocacy,
Washington, DC 20549-0213.
Extension:
Rule 17g-4; SEC File No. 270-566; OMB Control No. 3235-0627.
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'') has submitted to the Office of Management
and Budget a request for approval of extension of the previously
approved collection provided for in Rule 17g-4 (17 CFR 240.17g-4) under
the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange
Act'').
The Rating Agency Act added a new Section 15E, ``Registration of
Nationally Recognized Statistical Rating Organizations,'' \1\ to the
Exchange Act. Rule 17g-4 requires that a Nationally Recognized
Statistical Rating Organization (``NRSRO'') has written policies and
procedures to prevent the misuse of material nonpublic information
including: procedures designed to prevent the inappropriate
dissemination of material nonpublic information obtained in connection
with the performance of credit rating services; procedures designed to
prevent a person associated with the rating organization from trading
on material nonpublic information; and procedures designed to prevent
the inappropriate dissemination of a pending credit rating.\2\
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\1\ 15 U.S.C. 78o-7.
\2\ See Rule 17g-4. Release No. 34-55231 (Feb. 2, 2007), 72 FR
6378 (Feb. 9, 2007); and Release No. 34-55857 (June 5, 2007), 72 FR
33564 (June 18, 2007).
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It is anticipated that 30 credit rating agencies will register with
the Commission as NRSROs under Section 15E of the Exchange Act. The
Commission estimates that it will take approximately 50 hours for an
NRSRO to establish procedures in conformance with Rule 17g-4 for a
total one-time burden for the 30 credit rating agencies the Commission
estimates will register as NRSROs of 1,500 hours.\3\
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\3\ 50 hours x 30 NRSROs = 1,500 hours.
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An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid control number.
Comments should be directed to: (i) Desk Officer for the Securities
and Exchange Commission Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503 or by sending an e-mail to: [email protected]; and (ii) Charles Boucher, 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
[email protected]. Comments must be submitted to OMB within 30 days
of this notice.
Dated: March 17, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-6504 Filed 3-23-10; 8:45 am]
BILLING CODE 8011-01-P