Proposed Collection; Comment Request; Extension: Rules 17g-8 and 17g-9, 38203 [2024-09849]
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Federal Register / Vol. 89, No. 89 / Tuesday, May 7, 2024 / Notices
Commission estimates that the total
annual hour burden to comply with
Rule 17g–5(a)(3) will be 61,899 hours.
The Commission further estimates that
this annual hour burden will result in
a total annual cost of $14,126,168. This
cost is attributable to costs that may be
incurred by NRSROs and arrangers of
asset-backed securities posting
information on a password-protected
website, as required by Rule 17g–5, and
preparing and procuring representations
to determine whether an exemption
under the rule applies, as well as costs
incurred by NRSROs preparing
certifications required under the rule to
gain access to websites maintained by
other NRSROs or arrangers of assetbacked securities.
Written comments are invited on: (a)
whether the proposed collection of
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 on respondents; 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 by
July 8, 2024.
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 OMB
control number.
Please direct your written comments
to: Dave Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John
Pezzullo, 100 F St NE, Washington, DC
20549 or send an email to: PRA_
Mailbox@sec.gov.
Dated: May 1, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–09850 Filed 5–6–24; 8:45 am]
BILLING CODE 8011–01–P
khammond on DSKJM1Z7X2PROD with NOTICES
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–563, OMB Control No.
3235–0693]
Proposed Collection; Comment
Request; Extension: Rules 17g–8 and
17g–9
Upon Written Request, Copies
Available From: Securities and
VerDate Sep<11>2014
15:55 May 06, 2024
Jkt 262001
Exchange Commission, Office of FOIA
Services, 100 F Street NE, Washington,
DC 20549–2736
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 Rules 17g–8 and 17g–9
(17 CFR 240.17g–8 and 17 CFR 240.17g–
9) 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 for
extension and approval.
Rules 17g–8 and 17g–9 set forth
collection of information requirements.
Specifically, Rule 17g–8 requires
nationally recognized statistical rating
organizations (‘‘NRSROs’’) to establish,
maintain, enforce, and document
policies and procedures that are
reasonably designed to achieve the
objectives articulated in the rule.
Generally, these policies and procedures
pertain to (i) the procedures and
methodologies NRSROs use to
determine credit ratings, and (ii) the
symbols, numbers, or scores NRSROs
use to denote credit ratings.1 Rule 17g–
8 also requires that the policies and
procedures an NRSRO is required to
establish, maintain, and enforce
pursuant to Section 15E(h)(4)(A) of the
Securities Exchange Act of 1934 must,
at a minimum, include policies and
procedures reasonably designed to
achieve the objectives articulated in the
rule.2 Rule 17g–9 requires each NRSRO
to establish, maintain, enforce, and
document standards of training,
experience, and competence for the
individuals it employs to participate in
the determination of credit ratings that
are reasonably designed to achieve the
objective that the NRSRO produces
accurate credit ratings.3
Currently, there are 10 credit rating
agencies registered as NRSROs with the
Commission. The Commission estimates
that the total annual hour burden for
NRSROs to comply with Rule 17g–8 and
Rule 17g–9 is 1,450 hours and 34,658
hours, respectively. The Commission
further estimates that these annual hour
burdens will result in a total annual cost
with respect to Rule 17g–8 of $539,400
and with respect to Rule 17g–9 of
$12,951,746. These costs are attributable
to costs NRSROs may incur in
completing updates and other activities
relating to the policies and procedures
adopted pursuant to Rule 17g–8 and the
240.17g–8(a) and (b).
240.17g–8(c).
3 See 240.17g–9.
standards adopted pursuant to Rule
17g–9, and in conducting the periodic
testing of credit analysts pursuant to
standards adopted under Rule 17g–9.
Written comments are invited on: (a)
whether the proposed collection of
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 on respondents; 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 by
July 8, 2024.
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 OMB
control number.
Please direct your written comments
to: Dave Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John
Pezzullo, 100 F St NE, Washington, DC
20549 or send an email to: PRA_
Mailbox@sec.gov.
Dated: May 1, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–09849 Filed 5–6–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–100046; File No. SR–
FINRA–2024–007]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing of a
Proposed Rule Change To Adopt the
FINRA Rule 6500 Series (Securities
Lending and Transparency Engine
(SLATETM))
May 1, 2024.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on May 1,
2024, the Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II,
1 See
2 See
PO 00000
Frm 00186
Fmt 4703
Sfmt 4703
38203
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\07MYN1.SGM
07MYN1
]]>Agencies
[Federal Register Volume 89, Number 89 (Tuesday, May 7, 2024)]
[Notices]
[Page 38203]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-09849]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-563, OMB Control No. 3235-0693]
Proposed Collection; Comment Request; Extension: Rules 17g-8 and
17g-9
Upon Written Request, Copies Available From: Securities and
Exchange Commission, Office of FOIA Services, 100 F Street NE,
Washington, DC 20549-2736
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 Rules 17g-8 and 17g-9 (17 CFR
240.17g-8 and 17 CFR 240.17g-9) 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 for extension and approval.
Rules 17g-8 and 17g-9 set forth collection of information
requirements. Specifically, Rule 17g-8 requires nationally recognized
statistical rating organizations (``NRSROs'') to establish, maintain,
enforce, and document policies and procedures that are reasonably
designed to achieve the objectives articulated in the rule. Generally,
these policies and procedures pertain to (i) the procedures and
methodologies NRSROs use to determine credit ratings, and (ii) the
symbols, numbers, or scores NRSROs use to denote credit ratings.\1\
Rule 17g-8 also requires that the policies and procedures an NRSRO is
required to establish, maintain, and enforce pursuant to Section
15E(h)(4)(A) of the Securities Exchange Act of 1934 must, at a minimum,
include policies and procedures reasonably designed to achieve the
objectives articulated in the rule.\2\ Rule 17g-9 requires each NRSRO
to establish, maintain, enforce, and document standards of training,
experience, and competence for the individuals it employs to
participate in the determination of credit ratings that are reasonably
designed to achieve the objective that the NRSRO produces accurate
credit ratings.\3\
---------------------------------------------------------------------------
\1\ See 240.17g-8(a) and (b).
\2\ See 240.17g-8(c).
\3\ See 240.17g-9.
---------------------------------------------------------------------------
Currently, there are 10 credit rating agencies registered as NRSROs
with the Commission. The Commission estimates that the total annual
hour burden for NRSROs to comply with Rule 17g-8 and Rule 17g-9 is
1,450 hours and 34,658 hours, respectively. The Commission further
estimates that these annual hour burdens will result in a total annual
cost with respect to Rule 17g-8 of $539,400 and with respect to Rule
17g-9 of $12,951,746. These costs are attributable to costs NRSROs may
incur in completing updates and other activities relating to the
policies and procedures adopted pursuant to Rule 17g-8 and the
standards adopted pursuant to Rule 17g-9, and in conducting the
periodic testing of credit analysts pursuant to standards adopted under
Rule 17g-9.
Written comments are invited on: (a) whether the proposed
collection of 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 on
respondents; 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 by
July 8, 2024.
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 OMB control number.
Please direct your written comments to: Dave Bottom, Director/Chief
Information Officer, Securities and Exchange Commission, c/o John
Pezzullo, 100 F St NE, Washington, DC 20549 or send an email to:
[email protected].
Dated: May 1, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-09849 Filed 5-6-24; 8:45 am]
BILLING CODE 8011-01-P
