Document ID: SEC-2021-1581-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2021-11-09T05:00Z

[Federal Register Volume 86, Number 214 (Tuesday, November 9, 2021)]
[Notices]
[Pages 62234-62235]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-24428]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-517, OMB Control No. 3235-0575]

Proposed Collection; 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:
    Regulation AC

    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'') is soliciting comments on the existing 
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.)). The 
Commission plans to submit this existing collection of information to 
the Office of Management and Budget (``OMB'') for extension and 
approval.
    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 Commission estimates that Regulation AC imposes an aggregate 
annual time burden of approximately 40,806 hours. The Commission 
estimates that the total annual internal cost of compliance for the 
40,806 hours is approximately $20,923,582.
    Written comments are invited on: (a) Whether the proposed 
collection of

[[Page 62235]]

information is necessary for the proper performance of the functions of 
the Commission, including whether the information shall have practical 
utility; (b) the accuracy of the Commission's estimates of the burden 
of the proposed collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information collected; and (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology. Consideration will 
be given to comments and suggestions submitted in writing within 60 
days of this publication.
    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.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o John 
R. Pezzullo, 100 F Street NE, Washington, DC 20549, or send an email 
to: [email protected].

    Dated: November 3, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-24428 Filed 11-8-21; 8:45 am]
BILLING CODE 8011-01-P