[Federal Register Volume 89, Number 89 (Tuesday, May 7, 2024)]
[Notices]
[Page 38217]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-09848]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-563, OMB Control No. 3235-0656]


Proposed Collection; 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 existing 
collection of information provided for in Rule 17g-7 (17 CFR 240.17g-7) 
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.
    Rule 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 NRSROs will take collectively 
approximately 1,908,530 rating actions per year.
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    \1\ See 240.17g-7(a).
    \2\ See 240.17g-7(b).
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    Based on staff experience, the Commission estimates 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, as well as 
the cost of maintaining a database of rating histories to comply with 
Rule 17g-7.
    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. 2024-09848 Filed 5-6-24; 8:45 am]
BILLING CODE 8011-01-P