Document ID: SEC-2008-0248-0001
Agency: sec
Document Type: Notice
Title: Nationally Recognized Statistical Rating Organization Registration Order;  LACE Financial Corp.
Posted Date: 2008-02-14T05:00Z

[Federal Register: February 14, 2008 (Volume 73, Number 31)]
[Notices]               
[Page 8720-8721]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr14fe08-102]                         

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SECURITIES AND EXCHANGE COMMISSION

[Securities Exchange Act of 1934; Release No. 57300]

 
Order Granting Registration of Lace Financial Corp. as a 
Nationally Recognized Statistical Rating Organization

 February 11, 2008.
    LACE Financial Corp. (``LACE''), a credit rating agency, furnished 
to the Securities and Exchange Commission (``Commission'') an 
application for registration as a nationally recognized

[[Page 8721]]

statistical rating organization (``NRSRO'') under section 15E of the 
Securities Exchange Act of 1934 (``Exchange Act'') for the classes of 
credit ratings described in clauses (i) through (v) of section 
3(a)(62)(B) of the Exchange Act.
    Based on the information provided in the application, LACE has a 
conflict of interest relating to the fourth class that would cause the 
firm to be in violation of Exchange Act Rule 17g-5(c)(1) (17 CFR 
240.17g-5(c)(1)) if it became registered. LACE requested that the 
Commission grant LACE an exemption from the conflict of interest 
prohibition in Exchange Act Rule 17g-5(c)(1). Simultaneously with this 
Order, the Commission is issuing an Order (``Exemptive Order'') 
granting LACE an exemption from Exchange Act Rule 17g-5(c)(1) until 
January 1, 2009.\1\
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    \1\ Release No. 34-57301 (February 11, 2008).
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    The Commission finds that the application furnished by LACE is in 
the form required by Exchange Act section 15E, Exchange Act Rule 17g-1 
(17 CFR 240.17g-1), and Form NRSRO (17 CFR 249b.300) and contains the 
information described in subparagraph (B) of section 15E(a)(1) of the 
Exchange Act.
    Based on the application and Exemptive Order, the Commission finds 
that the requirements of section 15E of the Exchange Act are satisfied.
    Accordingly,
    It is ordered, under paragraph (a)(2)(A) of section 15E of the 
Exchange Act, that the registration of LACE Financial Corp. with the 
Commission as an NRSRO under section 15E of the Exchange Act for the 
classes of credit ratings described in clauses (i) through (v) of 
section 3(a)(62)(B) of the Exchange Act is granted.

    By the Commission.
Nancy M. Morris,
Secretary.
 [FR Doc. E8-2772 Filed 2-13-08; 8:45 am]

BILLING CODE 8011-01-P