Order Providing NRSROs a Temporary Exemption From the Requirement in Rule 17g-2(d) (Incorporating the Provisions of Rule 17g-2(a)(8)) of the Securities Exchange Act of 1934 That CUSIP Numbers Be Displayed, 41176-41177 [E9-19478]

Download as PDF 41176 Federal Register / Vol. 74, No. 156 / Friday, August 14, 2009 / Notices • Noise: Ambient, sources, and sensitive receptors; • Historical and Cultural Resources: Historical, archaeological, and traditional cultural resources; • Visual and Scenic Resources: Landscape characteristics, manmade features and viewshed; • Socioeconomics: Demography, economic base, labor pool, housing, transportation, utilities, public services/ facilities, and education; • Environmental Justice: Potential disproportionately high and adverse impacts to minority and low-income populations; • Public and Occupational Health: Potential public and occupational consequences from construction, routine operation, transportation, and credible accident scenarios (including natural events); • Waste Management: Types of wastes expected to be generated, handled, and stored; and • Cumulative Effects: Impacts from past, present, and reasonably foreseeable actions at and near the site(s). This list is not intended to be all inclusive, nor is it a predetermination of potential environmental impacts. 5.0 The NEPA Process mstockstill on DSKH9S0YB1PROD with NOTICES Dated at Rockville, Maryland, this 6th day of August 2009. For the Nuclear Regulatory Commission. Christepher McKenney, Acting Deputy Director, Environmental Protection and Performance Assessment Directorate, Division of Waste Management and Environmental Protection, Office of Federal and State Materials and Environmental Management Programs. [FR Doc. E9–19542 Filed 8–13–09; 8:45 am] BILLING CODE 7590–01–P 16:27 Aug 13, 2009 Reporting Requirements Submitted for OMB Review AGENCY: Small Business Administration. Notice of Reporting Requirements Submitted for OMB Review; Correction. Jkt 217001 Dated: August 10, 2009. Curtis B. Rich, Acting, Chief Administrative Information Branch. [FR Doc. E9–19491 Filed 8–13–09; 8:45 am] BILLING CODE 8025–01–P ACTION: SUMMARY: The Small Business Administration published a document in the Federal Register of August 7, 2009, concerning Reporting and Recordkeeping Requirements. The document contained an incorrect word in the title. FOR FURTHER INFORMATION CONTACT: Curtis Rich, 202–205–7030. Correction: In the Federal Register of August 7, 2009, FR document E9–18948, Volume 74, Number 151, page 39727, under SUPPLEMENTARY INFORMATION ‘‘Title’’ should read: SUPPLEMENTARY INFORMATION: Title: Disaster Home/Business Loan Inquiry Record. Dated: August 7, 2009. Curtis B. Rich, Acting, Chief Administrative Information Branch. [FR Doc. E9–19490 Filed 8–13–09; 8:45 am] BILLING CODE 8025–01–P The SEIS for the Antelope and JAB Uranium Project will be prepared pursuant to the NRC’s NEPA Regulations at 10 CFR part 51. The NRC will continue its environmental review of the application and as soon as practicable, the NRC and its contractor will prepare and publish a draft SEIS. The NRC currently plans to have a 45day public comment period for the draft SEIS. Availability of the draft SEIS and the dates of the public comment period will be announced in the Federal Register and the NRC Web site: https:// www.nrc.gov. The final SEIS will include responses to public comments received on the draft SEIS. VerDate Nov<24>2008 SMALL BUSINESS ADMINISTRATION SMALL BUSINESS ADMINISTRATION Reporting Requirements Submitted for OMB Review AGENCY: Small Business Administration. ACTION: Notice of Reporting Requirements Submitted for OMB Review; Correction. SUMMARY: The Small Business Administration published a document in the Federal Register of August 10, 2009, concerning Reporting and Recordkeeping Requirements. The document contained an incorrect title. FOR FURTHER INFORMATION CONTACT: Curtis Rich, 202–205–7030. Correction In the Federal Register of August 10, 2009, FR document E9–19013, Volume 74, Number 152, page 39991, under the SUPPLEMENTARY INFORMATION ‘‘Title’’ should read: SUPPLEMENTARY INFORMATION: Title: Information for Small Business Size Determination. PO 00000 Frm 00069 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] U.S. Canadian Minerals, Inc.; Order of Suspension of Trading August 12, 2009. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of U.S. Canadian Minerals, Inc. (OTC Bulletin Board symbol: USCN), a Nevada corporation. Questions have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, U.S. Canadian Minerals’ liabilities, stock issuances, recent merger transaction, business prospects, and recently acquired purported assets. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of U.S. Canadian Minerals, Inc. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed company is suspended for the period from 9:30 a.m. EDT, August 12, 2009, through 11:59 p.m. EDT, on August 25, 2009. By the Commission. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–19627 Filed 8–12–09; 4:15 pm] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60473; August 10, 2009] Order Providing NRSROs a Temporary Exemption From the Requirement in Rule 17g–2(d) (Incorporating the Provisions of Rule 17g–2(a)(8)) of the Securities Exchange Act of 1934 That CUSIP Numbers Be Displayed I. Background The Credit Rating Agency Reform Act of 2006 (‘‘Rating Agency Act’’) 1 defined the term ‘‘nationally recognized statistical rating organization’’ 1 Public E:\FR\FM\14AUN1.SGM Law 109–291 (2006). 14AUN1 Federal Register / Vol. 74, No. 156 / Friday, August 14, 2009 / Notices (‘‘NRSRO’’) and provided authority for the Securities and Exchange Commission (‘‘Commission’’) to implement registration, recordkeeping, financial reporting, and oversight rules with respect to registered credit rating agencies. The regulations implemented by the Commission pursuant to this mandate include Securities Exchange Act of 1934 (‘‘Exchange Act’’) Rule 17g– 2,2 which requires an NRSRO to make and retain certain records relating to its business and to retain certain other business records made in the normal course of business operations. On February 2, 2009, the Commission adopted amendments to its NRSRO rules imposing additional requirements on NRSROs in order to address concerns about the integrity of their credit rating procedures and methodologies.3 Among other things, the rule amendments added new paragraphs (a)(8) and (d) to Rule 17g–2. New paragraph (a)(8) of Rule 17g–2 requires an NRSRO to make and retain a record for each outstanding credit rating it maintains showing all rating actions (initial rating, upgrades, downgrades, placements on watch for upgrade or downgrade, and withdrawals) ‘‘identified by the name of the rated security or obligor and, if applicable, the CUSIP of the rated security or the Central Index Key (CIK) number of the rated obligor.’’ 4 New paragraph (d) of Rule 17g–2 requires an NRSRO to make publicly available, on a six-month delayed basis, the ratings histories for a random sample of 10% of the credit ratings paid for by the obligor being rated or by the issuer, underwriter, or sponsor of the security being rated (‘‘issuer-paid credit ratings’’) pursuant to paragraph (a)(8) of Rule 17g–2 for each class of credit rating for which the NRSRO is registered and has issued 500 or more issuer-paid credit ratings.5 Paragraph (d) of Rule 17g–2 further requires that this information be made public on the NRSRO’s corporate Internet Web site in eXtensible Business Reporting Language (‘‘XBRL’’) format.6 The rule provides that in preparing the XBRL disclosure, an NRSRO must use the List of XBRL Tags for NRSROs as specified on the Commission’s Web site.7 The Commission established a mstockstill on DSKH9S0YB1PROD with NOTICES 2 17 CFR 240.17g–2. 3 See Amendments to Rules for Nationally Recognized Statistical Rating Organizations, Exchange Act Release No. 59342 (February 2, 2009), 74 FR 6456 (‘‘February 2009 Adopting Release’’). 4 17 CFR 240.17g–2(a)(8). 5 17 CFR 240.17g–2(d). 6 Id. 7 Id. The February 2009 Adopting Release specified a compliance date of 180 days after publication in the Federal Register. VerDate Nov<24>2008 16:27 Aug 13, 2009 Jkt 217001 compliance date of August 10, 2009 for this provision. The XBRL tags are not yet available. Therefore, the Commission issued a Notice on August 5, 2009 that an NRSRO subject to the disclosure provisions of Rule 17g–2(d) can satisfy the requirement to make publicly available ratings history information in an XBRL format by using an XBRL format or any other machine readable format until such time as the Commission provides further notice.8 As noted above, the required rating actions information includes, if applicable, the CUSIP of each rated security and the CIK number of each rated obligor. Although CIK numbers are available free of charge on the Commission’s Web site, CUSIPs are owned and distributed by private parties. Subsequent to the issuance of the August 5, 2009 Notice, several NRSROs have notified Commission staff that, despite their efforts, they have not been able to resolve certain issues with the managers of the CUSIP program. The Commission believes, however, that users of credit ratings would benefit from having ratings action information available by the August 10, 2009 implementation date for Rule 17g–2(d), even if CUSIP numbers are not included for a limited time. We note that identifying information, such as the name of the security, will be included. For these reasons, the Commission finds that providing NRSROs a partial temporary exemption from Rule 17g– 2(d) (incorporating the provisions of Rule 17g–2(a)(8)) is necessary and appropriate in the public interest and is consistent with the protection of investors.9 Therefore, the Commission is providing NRSROs with a 30-day exemption from the requirement in Rule 17g–2(d) (incorporating the provisions of Rule 17g–2(a)(8)) that the CUSIP for each rated security be included with the ratings action information. II. Conclusion Accordingly, pursuant to Section 36 of the Exchange Act, It is hereby ordered that NRSROs are temporarily exempt from the 8 Notice Regarding the Requirement to Use eXtensible Business Reporting Language Format to Make Publicly Available the Information Required Pursuant to Rule 17g–2(d) of the Exchange Act, Exchange Act Release No. 60451, August 5, 2009 (‘‘August 5, 2009 Notice’’). 9 Section 36 of the Exchange Act authorizes the Commission, by rule, regulation, or order, to conditionally or unconditionally exempt any person from any rule under the Exchange Act, to the extent that the exemption is necessary or appropriate in the public interest and is consistent with the protection of investors. 15 U.S.C. 78mm. PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 41177 requirement in Rule 17g–2(d) (incorporating the provisions of Rule 17g–2(a)(8)) that the CUSIP for each rated security be included with the ratings action information for thirty days, until September 9, 2009. By the Commission. Elizabeth M. Murphy, Secretary. [FR Doc. E9–19478 Filed 8–13–09; 8:45 am] BILLING CODE 8010–01–P DEPARTMENT OF STATE [Public Notice 6724] Bureau of Political-Military Affairs: Directorate of Defense Trade Controls; Notifications to the Congress of Proposed Commercial Export Licenses SUMMARY: Notice is hereby given that the Department of State has forwarded the attached Notifications of Proposed Export Licenses to the Congress on the dates indicated on the attachments pursuant to sections 36(c) and 36(d) and in compliance with section 36(f) of the Arms Export Control Act (22 U.S.C. 2776). DATES: Effective Date: As shown on each of the 15 letters. FOR FURTHER INFORMATION CONTACT: Mr. Robert S. Kovac, Managing Director, Directorate of Defense Trade Controls, Bureau of Political-Military Affairs, Department of State (202) 663–2861. SUPPLEMENTARY INFORMATION: Section 36(f) of the Arms Export Control Act mandates that notifications to the Congress pursuant to sections 36(c) and 36(d) must be published in the Federal Register when they are transmitted to Congress or as soon thereafter as practicable. May 21, 2009. Hon. Nancy Pelosi, Speaker of the House of Representatives. Dear Madam Speaker: Pursuant to Section 36(c) and 36(d) of the Arms Export Control Act, I am transmitting, herewith, certification of a proposed manufacturing license agreement for the manufacture of significant military equipment abroad and the export of defense services and defense articles in the amount of $50,000,000 or more. The transaction contained in the attached certification involves the export of defense articles, including technical data, and defense services to Mexico for the manufacture of components for use in Auxiliary Power Units and Propulsion Engines for end use on various U.S. and nonU.A. approved military platforms. The United States Government is prepared to license the export of these items having taken into account political, military, economic, human rights and arms control considerations. E:\FR\FM\14AUN1.SGM 14AUN1

Agencies

[Federal Register Volume 74, Number 156 (Friday, August 14, 2009)]
[Notices]
[Pages 41176-41177]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-19478]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60473; August 10, 2009]


Order Providing NRSROs a Temporary Exemption From the Requirement 
in Rule 17g-2(d) (Incorporating the Provisions of Rule 17g-2(a)(8)) of 
the Securities Exchange Act of 1934 That CUSIP Numbers Be Displayed

I. Background

    The Credit Rating Agency Reform Act of 2006 (``Rating Agency Act'') 
\1\ defined the term ``nationally recognized statistical rating 
organization''

[[Page 41177]]

(``NRSRO'') and provided authority for the Securities and Exchange 
Commission (``Commission'') to implement registration, recordkeeping, 
financial reporting, and oversight rules with respect to registered 
credit rating agencies. The regulations implemented by the Commission 
pursuant to this mandate include Securities Exchange Act of 1934 
(``Exchange Act'') Rule 17g-2,\2\ which requires an NRSRO to make and 
retain certain records relating to its business and to retain certain 
other business records made in the normal course of business 
operations.
---------------------------------------------------------------------------

    \1\ Public Law 109-291 (2006).
    \2\ 17 CFR 240.17g-2.
---------------------------------------------------------------------------

    On February 2, 2009, the Commission adopted amendments to its NRSRO 
rules imposing additional requirements on NRSROs in order to address 
concerns about the integrity of their credit rating procedures and 
methodologies.\3\ Among other things, the rule amendments added new 
paragraphs (a)(8) and (d) to Rule 17g-2. New paragraph (a)(8) of Rule 
17g-2 requires an NRSRO to make and retain a record for each 
outstanding credit rating it maintains showing all rating actions 
(initial rating, upgrades, downgrades, placements on watch for upgrade 
or downgrade, and withdrawals) ``identified by the name of the rated 
security or obligor and, if applicable, the CUSIP of the rated security 
or the Central Index Key (CIK) number of the rated obligor.'' \4\ New 
paragraph (d) of Rule 17g-2 requires an NRSRO to make publicly 
available, on a six-month delayed basis, the ratings histories for a 
random sample of 10% of the credit ratings paid for by the obligor 
being rated or by the issuer, underwriter, or sponsor of the security 
being rated (``issuer-paid credit ratings'') pursuant to paragraph 
(a)(8) of Rule 17g-2 for each class of credit rating for which the 
NRSRO is registered and has issued 500 or more issuer-paid credit 
ratings.\5\
---------------------------------------------------------------------------

    \3\ See Amendments to Rules for Nationally Recognized 
Statistical Rating Organizations, Exchange Act Release No. 59342 
(February 2, 2009), 74 FR 6456 (``February 2009 Adopting Release'').
    \4\ 17 CFR 240.17g-2(a)(8).
    \5\ 17 CFR 240.17g-2(d).
---------------------------------------------------------------------------

    Paragraph (d) of Rule 17g-2 further requires that this information 
be made public on the NRSRO's corporate Internet Web site in eXtensible 
Business Reporting Language (``XBRL'') format.\6\ The rule provides 
that in preparing the XBRL disclosure, an NRSRO must use the List of 
XBRL Tags for NRSROs as specified on the Commission's Web site.\7\ The 
Commission established a compliance date of August 10, 2009 for this 
provision.
---------------------------------------------------------------------------

    \6\ Id.
    \7\ Id. The February 2009 Adopting Release specified a 
compliance date of 180 days after publication in the Federal 
Register.
---------------------------------------------------------------------------

    The XBRL tags are not yet available. Therefore, the Commission 
issued a Notice on August 5, 2009 that an NRSRO subject to the 
disclosure provisions of Rule 17g-2(d) can satisfy the requirement to 
make publicly available ratings history information in an XBRL format 
by using an XBRL format or any other machine readable format until such 
time as the Commission provides further notice.\8\
---------------------------------------------------------------------------

    \8\ Notice Regarding the Requirement to Use eXtensible Business 
Reporting Language Format to Make Publicly Available the Information 
Required Pursuant to Rule 17g-2(d) of the Exchange Act, Exchange Act 
Release No. 60451, August 5, 2009 (``August 5, 2009 Notice'').
---------------------------------------------------------------------------

    As noted above, the required rating actions information includes, 
if applicable, the CUSIP of each rated security and the CIK number of 
each rated obligor. Although CIK numbers are available free of charge 
on the Commission's Web site, CUSIPs are owned and distributed by 
private parties.
    Subsequent to the issuance of the August 5, 2009 Notice, several 
NRSROs have notified Commission staff that, despite their efforts, they 
have not been able to resolve certain issues with the managers of the 
CUSIP program. The Commission believes, however, that users of credit 
ratings would benefit from having ratings action information available 
by the August 10, 2009 implementation date for Rule 17g-2(d), even if 
CUSIP numbers are not included for a limited time. We note that 
identifying information, such as the name of the security, will be 
included.
    For these reasons, the Commission finds that providing NRSROs a 
partial temporary exemption from Rule 17g-2(d) (incorporating the 
provisions of Rule 17g-2(a)(8)) is necessary and appropriate in the 
public interest and is consistent with the protection of investors.\9\ 
Therefore, the Commission is providing NRSROs with a 30-day exemption 
from the requirement in Rule 17g-2(d) (incorporating the provisions of 
Rule 17g-2(a)(8)) that the CUSIP for each rated security be included 
with the ratings action information.
---------------------------------------------------------------------------

    \9\ Section 36 of the Exchange Act authorizes the Commission, by 
rule, regulation, or order, to conditionally or unconditionally 
exempt any person from any rule under the Exchange Act, to the 
extent that the exemption is necessary or appropriate in the public 
interest and is consistent with the protection of investors. 15 
U.S.C. 78mm.
---------------------------------------------------------------------------

II. Conclusion

    Accordingly, pursuant to Section 36 of the Exchange Act,
    It is hereby ordered that NRSROs are temporarily exempt from the 
requirement in Rule 17g-2(d) (incorporating the provisions of Rule 17g-
2(a)(8)) that the CUSIP for each rated security be included with the 
ratings action information for thirty days, until September 9, 2009.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-19478 Filed 8-13-09; 8:45 am]
BILLING CODE 8010-01-P
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