
[Federal Register: December 18, 2008 (Volume 73, Number 244)]
[Notices]               
[Page 77082-77083]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18de08-121]                         

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SECURITIES AND EXCHANGE COMMISSION

 
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.

Extension: Regulation AC, OMB Control No. 3235-0575, SEC File No. 
270-517.

    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.
     Regulation Analyst Certification (AC) (17 CFR 242.500-
505).
    Regulation AC requires that research reports published, circulated, 
or provided by a broker or dealer or covered person contain a statement 
attesting that the views expressed in each research report accurately 
reflect the analyst's personal views and whether or not the research 
analyst received or will receive any compensation in connection with 
the views or recommendations expressed in the research report. 
Regulation AC also requires broker-dealers to, on a quarterly basis, 
make, keep, and maintain records of research analyst statements 
regarding whether the views expressed in public appearances accurately 
reflected the analyst's personal views, and whether any part of the 
analyst's compensation is related to the specific recommendations or 
views expressed in the public appearance. Regulation AC also requires 
that research prepared by

[[Page 77083]]

foreign persons be presented to U.S. persons pursuant to Securities 
Exchange Act Rule 15a-6 and that broker-dealers notify associated 
persons if they would be covered by the regulation. Regulation AC 
excludes the news media from its coverage.
    The Commission estimates that Regulation AC imposes an aggregate 
annual time burden of approximately 28,538 hours on 5,186 respondents, 
or approximately 5.5 hours per respondent. The Commission estimates 
that the total annual internal cost of the 28,538 hours is 
approximately $10,525,642.00, or approximately $2,030.00 per 
respondent, annually.
    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 to 
be 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: Lewis W. Walker, Acting 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 
within 60 days of this notice.

    Dated: December 10, 2008.
Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-29970 Filed 12-17-08; 8:45 am]

BILLING CODE 8011-01-P
