[Federal Register Volume 89, Number 124 (Thursday, June 27, 2024)]
[Notices]
[Page 53698]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-14082]


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SECURITIES AND EXCHANGE COMMISSION

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


Submission for OMB Review; Comment Request; Extension: Credit 
Risk Retention--Regulation RR

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'') has submitted to the Office of Management 
and Budget this request for extension of the previously approved 
collection of information discussed below.
    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 per response 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).
    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.
    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 July 29, 2024 to (i) www.reginfo.gov/public/do/PRAMain and (ii) 
David Bottom, Director/Chief Information Officer, Securities and 
Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 
20549, or by sending an email to: [email protected].

    Dated: June 21, 2024.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024-14082 Filed 6-26-24; 8:45 am]
BILLING CODE 8011-01-P