Document ID: SEC-2010-0110-0001
Agency: sec
Document Type: Notice
Title: Proposed Collection; Comment Request
Posted Date: 2010-01-21T05:00Z

[Federal Register: January 21, 2010 (Volume 75, Number 13)]
[Notices]               
[Page 3503]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr21ja10-92]                         

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SECURITIES AND EXCHANGE COMMISSION

[Rule 17g-4; SEC File No. 270-566; OMB Control No. 3235-0627]

 
Proposed Collection; Comment Request

Upon Written Request, Copies Available From: U.S. Securities and 
Exchange Commission, Office of Investor Education and Advocacy, 
Washington, DC 20549-0213.

    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'') is soliciting comments on the existing 
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 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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    Written comments are invited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information will have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
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.
    Comments should be directed to 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.

    Dated: January 13, 2010.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-1021 Filed 1-20-10; 8:45 am]
BILLING CODE 8011-01-P