Notice2024-18171
Submission for OMB Review; Comment Request; Extension: Rule 17g-7
Primary source
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Published
August 14, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 157 (Wednesday, August 14, 2024)</title>
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[Federal Register Volume 89, Number 157 (Wednesday, August 14, 2024)]
[Notices]
[Page 66149]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-18171]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-563, OMB Control No. 3235-0656]
Submission for OMB Review; 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 collection of
information summarized below. The Commission plans to submit an
extension for this current collection of information to the Office of
Management and Budget for approval.
Rule 17g-7 (17 CFR 240.17g-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 the 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 Commission staff's experience, it is estimated 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, and the cost
of maintaining a database of rating histories to comply with Rule 17g-
7.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
The public may view background documentation for this information
collection at the following website: <a href="http://www.reginfo.gov">www.reginfo.gov</a>. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
by September 13, 2024 to (i) <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a> and (ii)
Austin Gerig, Director/Chief Data Officer, Securities and Exchange
Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549,
or by sending an email to: <a href="/cdn-cgi/l/email-protection#eebebcafb1a38f87828c8196ae9d8b8dc0898198"><span class="__cf_email__" data-cfemail="411113001e0c20282d232e39013224226f262e37">[email protected]</span></a>.
Dated: August 9, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-18171 Filed 8-13-24; 8:45 am]
BILLING CODE 8011-01-P
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