[Federal Register Volume 86, Number 28 (Friday, February 12, 2021)]
[Notices]
[Pages 9415-9416]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02861]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-613, OMB Control No. 3235-0712]


Proposed Collection; Comment Request

Upon Written Request Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension:
    Credit Risk Retention--Regulation RR

    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.

[[Page 9416]]

    Credit Risk Retention (``Regulation RR'') (17 CFR 246.1 through 
246.22) recordkeeping and disclosure requirements implement Section 15G 
of the Securities Exchange Act of 1934 (15 U.S.C. 78o-11) Section 15G 
clarifies the scope and application of Section 306(a) of the Sarbanes-
Oxley Act of 2002 (15 U.S.C. 7244(a)). Section 306(a) of the Sarbanes-
Oxley Act requires, among other things, an issuer to provide timely 
notice to its directors and executive officers and to the Commission of 
the imposition of a blackout period that would trigger a trading 
prohibition under Section 306(a)(1) of the Sarbanes-Oxley Act. Section 
306(a)(1) prohibits any director or executive officer of an issuer of 
any equity security, from directly or indirectly, purchasing, selling 
or otherwise acquiring or transferring any equity security of that 
issuer during the blackout period with respect to such equity security, 
if the director or executive officer acquired the equity security in 
connection with his or her service or employment. Approximately 1,647 
issuers file using Regulation RR responses and it takes approximately 
14.389 hours per response. We estimate that 75% of the 14.389 hours per 
response (10.792 hours) is prepared by the registrant for a total 
annual reporting burden of 17,774 hours (10.792 hours per response x 
1,647 responses).
    Written comments are invited on: (a) Whether this proposed 
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 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.
    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 David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o Cynthia 
Roscoe, 100 F Street NE, Washington, DC 20549 or send an email to: 
PRA_Mailbox@sec.gov.

    Dated: February 8, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-02861 Filed 2-11-21; 8:45 am]
BILLING CODE 8011-01-P


