[Federal Register Volume 87, Number 18 (Thursday, January 27, 2022)]
[Notices]
[Page 4312]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01547]


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SECURITIES AND EXCHANGE COMMISSION

[OMB Control No. 3235-0627]


Rule 17g-4 30 Day Notice 2021--Submission for OMB Review; 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:
    Rule 17g-4

    Notice is hereby given that pursuant to the Paperwork Reduction Act 
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget (``OMB'') a request for approval of extension of the 
previously approved collection of information provided for in Rule 17g-
4 (17 CFR 240.17g-4) under the Securities Exchange Act of 1934 (15 
U.S.C. 78a et seq.) (``Exchange Act'').
    The Credit Rating Agency Reform Act of 2006 added a new section 
15E, ``Registration of Nationally Recognized Statistical Rating 
Organizations,'' \1\ to the Exchange Act. Pursuant to the authority 
granted under section 15E of the Exchange Act, the Commission adopted 
Rule 17g-4, which requires that a nationally recognized statistical 
rating organization (``NRSRO'') establish, maintain, and enforce 
written policies and procedures to prevent the misuse of material 
nonpublic information, including policies and procedures reasonably 
designed to prevent: (a) The inappropriate dissemination of material 
nonpublic information obtained in connection with the performance of 
credit rating services; (b) a person within the NRSRO from trading on 
material nonpublic information; and (c) the inappropriate dissemination 
of a pending credit rating action.\2\
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    \1\ 15 U.S.C. 78o-7.
    \2\ See 17 CFR 240.17g-4; Release No. 34-55231 (Feb. 2, 2007), 
72 FR 6378 (Feb. 9, 2007); Release No. 34-55857 (June 5, 2007), 72 
FR 33564 (June 18, 2007).
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    There are 9 credit rating agencies registered with the Commission 
as NRSROs under section 15E of the Exchange Act, which have already 
established the policies and procedures required by Rule 17g-4. Based 
on staff experience, an NRSRO is estimated to spend an average of 
approximately 10 hours per year reviewing its policies and procedures 
regarding material nonpublic information and updating them (if 
necessary), resulting in an average industry-wide annual hour burden of 
approximately 90 hours.\3\
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    \3\ 9 currently registered NRSROs x 10 hours = 90 hours.
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    An agency may not conduct or sponsor a collection of information 
unless it displays a currently valid OMB control number. No person 
shall be subject to any penalty for failing to comply with a collection 
of information subject to the PRA that does not display a 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 
to (i) >www.reginfo.gov/public/do/PRAMain< and (ii) David Bottom, 
Director/Chief Information Officer, Securities and Exchange Commission, 
c/o John R. Pezzullo, 100 F Street NE, Washington, DC 20549, or by 
sending an email to: [email protected].

    Dated: January 21, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-01547 Filed 1-26-22; 8:45 am]
BILLING CODE 8011-01-P


