Submission for OMB Review; Comment Request; Extension: Rule 17g-7, 66149 [2024-18171]
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Federal Register / Vol. 89, No. 157 / Wednesday, August 14, 2024 / Notices
This Notice will be published in the
Federal Register.
Erica A. Barker,
Secretary.
[FR Doc. 2024–18041 Filed 8–13–24; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–620, OMB Control No.
3235–0675]
ddrumheller on DSK120RN23PROD with NOTICES1
Proposed Collection; Comment
Request; Extension: Rule 15Ga–2 and
Form ABS–15G
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 collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Rule 15Ga–2 and Form ABS–15G (17
CFR 249.1400) is used for reports of
information required under Rule 15Ga–
1 and Rule 15Ga–2 (17 CFR 240.15Ga–
1) (17 CFR 240.15Ga–2) of the Exchange
Act of 1934 (‘‘Exchange Act’’). Exchange
Act Rule 15Ga–1 requires asset-backed
securitizers to provide disclosure
regarding fulfilled an unfulfilled
repurchase requests with respect to
asset-backed securities. The purpose of
the information collected on Form ABS–
15G is to implement the disclosure
requirements of Section 943 of the
Dodd-Frank Wall Street Reform and
Consumer Protection Act to provide
information regarding the use of
representations and warranties in the
asset-backed securities markets. Rule
15Ga–1 had a one-time reporting
requirement that expired on February
14, 2012. We estimate that
approximately 2,007 securitizers will
file Form ABS–15G annually at
estimated (19.307 hours) burden hours
per response. In addition, we estimate
that 75% of the 19.307 hours per
response (14.48 hours) is carried
internally by the securitizers for a total
annual reporting burden of 29,061 hours
(14.48 hours per response × 2,007
responses).
Written comments are invited on: (a)
whether this proposed collection of
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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 imposed by 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 by October 15, 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
control number.
Please direct your written comment to
Austin Gerig, Director/Chief Data
Officer, Securities and Exchange
Commission, c/o Oluwaseun Ajayi, 100
F Street NE, Washington, DC 20549 or
send an email to: PRA_Mailbox@
sec.gov.
Dated: August 9, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–18169 Filed 8–13–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–563, OMB Control No.
3235–0656]
Submission for OMB Review;
Comment Request; Extension: Rule
17g–7
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 collection of information
summarized below. The Commission
plans to submit an extension for this
current collection of information to the
Office of Management and Budget for
approval.
Rule 17g–7 (17 CFR 240.17g–7)
requires each nationally recognized
statistical rating organization
(‘‘NRSROs’’) to publish certain items,
including a form containing specified
information, when taking a rating action
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66149
with respect to a credit rating 1 and to
disclose rating histories for free on an
easily accessible portion of its corporate
internet website.2 There are currently 10
NRSROs registered with the
Commission, and it is estimated that the
NRSROs will take collectively
approximately 1,908,530 rating actions
per year.
Based on Commission staff’s
experience, it is estimated that the total
annual hour burden to comply with
Rule 17g–7 will be 641,673 hours. The
Commission further estimates that this
annual hour burden will result in a total
annual cost of $238,688,856, reflecting
the cost of preparing the form required
to be published by Rule 17g–7 and
standardizing and tailoring certain
required disclosures, and the cost of
maintaining a database of rating
histories to comply with Rule 17g–7.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice by September 13, 2024 to (i)
www.reginfo.gov/public/do/PRAMain
and (ii) Austin Gerig, Director/Chief
Data Officer, Securities and Exchange
Commission, c/o Oluwaseun Ajayi, 100
F Street NE, Washington, DC 20549, or
by sending an email to: PRA_Mailbox@
sec.gov.
Dated: August 9, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–18171 Filed 8–13–24; 8:45 am]
BILLING CODE 8011–01–P
1 See
2 See
E:\FR\FM\14AUN1.SGM
240.17g–7(a).
240.17g–7(b).
14AUN1
]]>Agencies
[Federal Register Volume 89, Number 157 (Wednesday, August 14, 2024)]
[Notices]
[Page 66149]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-18171]
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SECURITIES AND EXCHANGE COMMISSION
[SEC File No. 270-563, OMB Control No. 3235-0656]
Submission for OMB Review; Comment Request; Extension: Rule 17g-7
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 collection of
information summarized below. The Commission plans to submit an
extension for this current collection of information to the Office of
Management and Budget for approval.
Rule 17g-7 (17 CFR 240.17g-7) requires each nationally recognized
statistical rating organization (``NRSROs'') to publish certain items,
including a form containing specified information, when taking a rating
action with respect to a credit rating \1\ and to disclose rating
histories for free on an easily accessible portion of its corporate
internet website.\2\ There are currently 10 NRSROs registered with the
Commission, and it is estimated that the NRSROs will take collectively
approximately 1,908,530 rating actions per year.
---------------------------------------------------------------------------
\1\ See 240.17g-7(a).
\2\ See 240.17g-7(b).
---------------------------------------------------------------------------
Based on Commission staff's experience, it is estimated that the
total annual hour burden to comply with Rule 17g-7 will be 641,673
hours. The Commission further estimates that this annual hour burden
will result in a total annual cost of $238,688,856, reflecting the cost
of preparing the form required to be published by Rule 17g-7 and
standardizing and tailoring certain required disclosures, and the cost
of maintaining a database of rating histories to comply with Rule 17g-
7.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
The public may view background documentation for this information
collection at the following website: www.reginfo.gov. Find this
particular information collection by selecting ``Currently under 30-day
Review--Open for Public Comments'' or by using the search function.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
by September 13, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii)
Austin Gerig, Director/Chief Data Officer, Securities and Exchange
Commission, c/o Oluwaseun Ajayi, 100 F Street NE, Washington, DC 20549,
or by sending an email to: [email protected].
Dated: August 9, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-18171 Filed 8-13-24; 8:45 am]
BILLING CODE 8011-01-P
