Document ID: SEC-2019-0089-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2019-02-07T05:00Z

[Federal Register Volume 84, Number 26 (Thursday, February 7, 2019)]
[Notices]
[Pages 2605-2606]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-01374]

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SECURITIES AND EXCHANGE COMMISSION

Submission for OMB Review; Comment Request

Upon Written Request Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

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.) (``PRA''), 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 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 Credit Rating Agency Reform Act of 2006 added a new section 
15E, ``Registration of Nationally Recognized Statistical Rating 
Organizations,'' \1\ to the Exchange Act. Pursuant to the authority 
granted under section 15E of the Exchange Act, the Commission adopted 
Rule 17g-4, which requires that a nationally recognized statistical 
rating organization (``NRSRO'') establish, maintain, and enforce 
written policies and procedures to prevent the misuse of material 
nonpublic information, including policies and procedures reasonably 
designed to prevent: (a) The inappropriate dissemination of material 
nonpublic information obtained in connection with the performance of 
credit rating services; (b) a person within the NRSRO from trading on 
material nonpublic information; and (c) the inappropriate dissemination 
of a pending credit rating action.\2\
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    \1\ 15 U.S.C. 78o-7.
    \2\ See 17 CFR 240.17g-4; Release No. 34-55231 (Feb. 2, 2007), 
72 FR 6378 (Feb. 9, 2007); Release No. 34-55857 (June 5, 2007), 72 
FR 33564 (June 18, 2007).
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    There are 10 credit rating agencies registered with the Commission 
as NRSROs under section 15E of the Exchange Act, which have already 
established the policies and procedures required by Rule 17g-4. Based 
on staff

[[Page 2606]]

experience, an NRSRO is estimated to spend an average of approximately 
10 hours per year reviewing its policies and procedures regarding 
material nonpublic information and updating them (if necessary), 
resulting in an average industry-wide annual hour burden of 
approximately 100 hours.\3\
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    \3\ 10 currently registered NRSROs x 10 hours = 100 hours.
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    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid OMB control number. No 
person shall be subject to any penalty for failing to comply with a 
collection of information subject to the PRA that does not display a 
valid OMB control number.
    Background documentation for this information collection may be 
viewed at the following website: www.reginfo.gov. 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 email to: 
Lindsay.M.Abate@omb.eop.gov; and (ii) Charles Riddle, Acting Chief 
Information Officer, Securities and Exchange Commission, c/o Candace 
Kenner, 100 F St NE, Washington, DC 20549 or send an email to: 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    February 1, 2019.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-01374 Filed 2-6-19; 8:45 am]
 BILLING CODE 8011-01-P