Document ID: SEC-2010-0448-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2010-03-24T04:00Z

[Federal Register: March 24, 2010 (Volume 75, Number 56)]
[Notices]               
[Page 14216]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24mr10-126]                         

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SECURITIES AND EXCHANGE COMMISSION

 
Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.
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.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget a request for approval of extension of the previously 
approved collection 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 Rating Agency Act added a new Section 15E, ``Registration of 
Nationally Recognized Statistical Rating Organizations,'' \1\ to the 
Exchange Act. Rule 17g-4 requires that a Nationally Recognized 
Statistical Rating Organization (``NRSRO'') has written policies and 
procedures to prevent the misuse of material nonpublic information 
including: procedures designed to prevent the inappropriate 
dissemination of material nonpublic information obtained in connection 
with the performance of credit rating services; procedures designed to 
prevent a person associated with the rating organization from trading 
on material nonpublic information; and procedures designed to prevent 
the inappropriate dissemination of a pending credit rating.\2\
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    \1\ 15 U.S.C. 78o-7.
    \2\ See Rule 17g-4. Release No. 34-55231 (Feb. 2, 2007), 72 FR 
6378 (Feb. 9, 2007); and Release No. 34-55857 (June 5, 2007), 72 FR 
33564 (June 18, 2007).
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    It is anticipated that 30 credit rating agencies will register with 
the Commission as NRSROs under Section 15E of the Exchange Act. The 
Commission estimates that it will take approximately 50 hours for an 
NRSRO to establish procedures in conformance with Rule 17g-4 for a 
total one-time burden for the 30 credit rating agencies the Commission 
estimates will register as NRSROs of 1,500 hours.\3\
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    \3\ 50 hours x 30 NRSROs = 1,500 hours.
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    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless it displays a 
currently valid control number.
    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 e-mail to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Charles Boucher, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Shirley Martinson, 
6432 General Green Way, Alexandria, Virginia 22312 or send an e-mail to 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: March 17, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-6504 Filed 3-23-10; 8:45 am]
BILLING CODE 8011-01-P