Notice2025-01160
Public Company Accounting Oversight Board; Extension of Comment Period and Notice of Designation of Longer Period for Commission Action on Proposed Rules on Firm Reporting and Firm and Engagement Metrics and Related Amendments to PCAOB Standards
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
January 17, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 11 (Friday, January 17, 2025)</title>
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[Federal Register Volume 90, Number 11 (Friday, January 17, 2025)]
[Notices]
[Page 6036]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-01160]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102179; File Nos. PCAOB-2024-06, PCAOB-2024-07]
Public Company Accounting Oversight Board; Extension of Comment
Period and Notice of Designation of Longer Period for Commission Action
on Proposed Rules on Firm Reporting and Firm and Engagement Metrics and
Related Amendments to PCAOB Standards
January 14, 2025.
On November 22, 2024, the Public Company Accounting Oversight Board
(``PCAOB'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\
proposed rules on (1) Firm Reporting (``Firm Reporting'') and (2) Firm
and Engagement Metrics and Related Amendments to PCAOB Standards
(``Firm and Engagement Metrics''). The proposed rules on Firm Reporting
were published for comment in the Federal Register on December 5,
2024,\3\ and the proposed rules on Firm and Engagement Metrics were
published for comment in the Federal Register on December 11, 2024.\4\
The Commission provided a 21-day public comment period for the proposed
rules,\5\ which ended on December 26, 2024 for Firm Reporting and on
January 2, 2025 for Firm and Engagement Metrics.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Public Company Accounting Oversight Board; Notice of
Filing of Proposed Rules on Firm Reporting, Release No. 34-101723
(Nov. 25, 2024) [89 FR 96712 (Dec. 5, 2024)].
\4\ See Public Company Accounting Oversight Board; Notice of
Filing of Proposed Rules on Firm and Engagement Metrics and Related
Amendments to PCAOB Standards, Release No. 34-101724 (Nov. 25, 2024)
[89 FR 99968 (Dec. 11, 2024)].
\5\ See supra notes 3 and 4.
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Section 19(b)(2) of the Act \6\ provides that no later than 45 days
after the date of the publication of notice of the filing of a proposed
rule change, or within such longer period up to 90 days as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or as to which the
self-regulatory organization \7\ consents, the Commission shall either
approve or disapprove the proposed rule change, or institute
proceedings to determine whether the proposed rule change should be
disapproved. The 45th day after publication of the notice for the
proposed rules on Firm Reporting is January 19, 2025. The 45th day
after publication of the notice for the proposed rules on Firm and
Engagement Metrics is January 25, 2025.
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\6\ 15 U.S.C. 78s(b)(2).
\7\ The term ``self-regulatory organization'' includes a
``registered securities association.'' See Section 3(a)(26) of the
Act. Section 107(b)(4) of the Sarbanes-Oxley Act of 2002 states that
the provisions of Sections 19(b)(1) through (3) of the Act shall
govern the proposed rules of the PCAOB as fully as if the PCAOB were
a ``registered securities association'' for purposes of that
Section.
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To provide additional time for public comment on the proposed rules
and the issues raised therein, the Commission has determined to extend
the comment periods for the proposed rules for an additional 21 days
from the date of the issuance of this notice. To accommodate the longer
comment periods and consideration of such comments, the Commission
finds it appropriate to also extend the time periods within which the
Commission must take action on the proposed rules for up to 45 days.
Accordingly, the Commission is extending the public comment periods
for the proposed rules on Firm Reporting and Firm and Engagement
Metrics until February 4, 2025, and, pursuant to Section 19(b)(2) of
the Act,\8\ extends the date by which the Commission shall either
approve or disapprove, or institute proceedings to determine whether to
disapprove, the proposed rules on Firm Reporting to March 5, 2025 (File
No. PCAOB-2024-07) and the proposed rules on Firm and Engagement
Metrics to March 11, 2025 (File No. PCAOB-2024-06). Please note that
comments previously received on the proposed rules will be considered
together with comments submitted in response to this notice. Therefore,
while commenters are free to submit additional comments at this time,
they need not re-submit earlier comments.
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\8\ 15 U.S.C. 78s(b)(2).
\9\ 17 CFR 200.30-11(b)(3).
For the Commission, by the Office of the Chief Accountant,
pursuant to delegated authority.\9\
Vanessa A. Countryman,
Secretary.
[FR Doc. 2025-01160 Filed 1-16-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on January 17, 2025.
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