Notice2024-09848
Proposed Collection; Comment Request; Extension: Rule 17g-7
Primary source
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Published
May 7, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 89 (Tuesday, May 7, 2024)</title>
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[Federal Register Volume 89, Number 89 (Tuesday, May 7, 2024)]
[Notices]
[Page 38217]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09848]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-563, OMB Control No. 3235-0656]
Proposed Collection; Comment Request; Extension: Rule 17g-7
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC
20549-2736
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 existing
collection of information provided for in Rule 17g-7 (17 CFR 240.17g-7)
under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The
Commission plans to submit this existing collection of information to
the Office of Management and Budget for extension and approval.
Rule 17g-7 requires each nationally recognized statistical rating
organization (``NRSROs'') to publish certain items, including a form
containing specified information, when taking a rating action with
respect to a credit rating \1\ and to disclose rating histories for
free on an easily accessible portion of its corporate internet
website.\2\ There are currently 10 NRSROs registered with the
Commission, and it is estimated that NRSROs will take collectively
approximately 1,908,530 rating actions per year.
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\1\ See 240.17g-7(a).
\2\ See 240.17g-7(b).
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Based on staff experience, the Commission estimates that the total
annual hour burden to comply with Rule 17g-7 will be 641,673 hours. The
Commission further estimates that this annual hour burden will result
in a total annual cost of $238,688,856, reflecting the cost of
preparing the form required to be published by Rule 17g-7 and
standardizing and tailoring certain required disclosures, as well as
the cost of maintaining a database of rating histories to comply with
Rule 17g-7.
Written comments are invited on: (a) whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimates of the burden of the proposed collection of information; (c)
ways to enhance the quality, utility, and clarity of the information on
respondents; 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 by
July 8, 2024.
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 OMB control number. Please direct your written comments
to: Dave Bottom, Director/Chief Information Officer, Securities and
Exchange Commission, c/o John Pezzullo, 100 F St. NE, Washington, DC
20549 or send an email to: <a href="/cdn-cgi/l/email-protection#550507140a18343c39373a2d152630367b323a23"><span class="__cf_email__" data-cfemail="27777566786a464e4b45485f6754424409404851">[email protected]</span></a>.
Dated: May 1, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-09848 Filed 5-6-24; 8:45 am]
BILLING CODE 8011-01-P
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