Document ID: SEC-2012-0554-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2012-04-09T04:00Z

[Federal Register Volume 77, Number 68 (Monday, April 9, 2012)]
[Notices]
[Page 21113]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-8433]

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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 Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 17g-3; SEC File No. 270-565; OMB Control No. 3235-0626.

    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'') 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-
3 (17 CFR 240.17g-3) under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.).
    Rule 17g-3 contains reporting requirements. The collection of 
information obligations imposed by the rule is mandatory. The 
requirements of Rule 17g-3, however, apply only to credit rating 
agencies that are registered with the Commission as a nationally 
recognized statistical rating organization (``NRSRO)'', and 
registration is voluntary. Under Rule 17g-3 each NRSRO must submit 
annual audited financial statements. The Commission previously 
estimated that approximately 30 credit rating agencies would register 
with the Commission as NRSROs under section 15E of the Exchange Act.\1\ 
Currently, there are nine credit rating agencies which have registered 
with the Commission as NRSROs. Consequently, while the Commission 
expects more credit rating agencies may become registered as NRSROs 
over the next few years, the Commission believes that the estimated 
number of ten NRSROs should be used for purposes of the Paperwork 
Reduction Act. Thus, the Commission estimates that the adjusted current 
industry-wide annual burden for Rule 17g-3 would be 2,033 hours, which 
includes a one-time reporting burden for processing reports.
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    \1\ See Oversight of Credit Rating Agencies Registered as 
Nationally Recognized Statistical Rating Organizations, 34-55857 
(June 5, 2007), 72 FR 33564 at 33607 (June 18, 2007).
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    The Commission may not conduct or sponsor a collection of 
information unless it displays a currently valid 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 Web site, http://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: Shagufta_Ahmed@omb.eop.gov; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of 
this notice.

     Dated: April 3, 2012.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2012-8433 Filed 4-6-12; 8:45 am]
BILLING CODE 8011-01-P