Notice2024-25922
Submission for OMB Review; Comment Request; Extension: Regulation AC
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 8, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 217 (Friday, November 8, 2024)</title>
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[Federal Register Volume 89, Number 217 (Friday, November 8, 2024)]
[Notices]
[Page 88848]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-25922]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-517, OMB Control No. 3235-0575]
Submission for OMB Review; Comment Request; Extension: Regulation
AC
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 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') has submitted to the Office of Management
and Budget (``OMB'') a request for approval of extension of the
previously approved collection of information provided for in
Regulation Analyst Certification (``Regulation AC'') (17 CFR 242.500-
505), under the Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.).
Regulation AC requires that research reports published, circulated,
or provided by a broker or dealer or covered person contain a statement
attesting that the views expressed in each research report accurately
reflect the analyst's personal views and whether or not the research
analyst received or will receive any compensation in connection with
the views or recommendations expressed in the research report.
Regulation AC also requires broker-dealers to, on a quarterly basis,
make, keep, and maintain records of research analyst statements
regarding whether the views expressed in public appearances accurately
reflected the analyst's personal views, and whether any part of the
analyst's compensation is related to the specific recommendations or
views expressed in the public appearance. Regulation AC also requires
that research prepared by foreign persons be presented to U.S. persons
pursuant to Securities Exchange Act Rule 15a-6 and that broker-dealers
notify associated persons if they would be covered by the regulation.
Regulation AC excludes the news media from its coverage.
The collections of information under Regulation AC are necessary to
provide investors with information with which to determine the value of
the research available to them. It is important for an investor to know
whether an analyst may be biased with respect to securities or issuers
that are the subject of a research report. Further, in evaluating a
research report, it is reasonable for an investor to want to know about
an analyst's compensation. Without the information collection, the
purposes of Regulation AC could not be met. This regulation does not
involve the collection of confidential information.
The Commission estimates that Regulation AC imposes an aggregate
annual time burden of approximately 41,384 hours. The Commission
estimates that the total annual internal cost of compliance for the
41,384 hours is approximately $22,891,896.
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 December 9, 2024 to (i) <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a> or
<a href="/cdn-cgi/l/email-protection#5419160c7a1b19167a1b1d06157a0711170b3031273f0b3b32323d373126143b39367a313b247a333b22"><span class="__cf_email__" data-cfemail="b3fef1eb9dfcfef19dfcfae1f29de0f6f0ecd7d6c0d8ecdcd5d5dad0d6c1f3dcded19dd6dcc39dd4dcc5">[email protected]</span></a>, and (ii) Austin Gerig,
Director/Chief Data Officer, Securities and Exchange Commission, c/o
Tanya Ruttenberg, 100 F Street NE, Washington, DC 20549, or by sending
an email to: <a href="/cdn-cgi/l/email-protection#faaaa8bba5b79b9396989582ba899f99d49d958c"><span class="__cf_email__" data-cfemail="d9898b988694b8b0b5bbb6a199aabcbaf7beb6af">[email protected]</span></a>.
Dated: November 4, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-25922 Filed 11-7-24; 8:45 am]
BILLING CODE 8011-01-P
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