[Federal Register Volume 89, Number 125 (Friday, June 28, 2024)]
[Notices]
[Page 54108]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-14224]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-563, OMB Control No. 3235-0694]


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-10 and Form ABS Due Diligence--15E
    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 an 
extension for this current collection of information to the Office of 
Management and Budget for approval.
    Rule 17g-10 (17 CFR 240.17g-10) requires a provider of third-party 
due diligence services to provide the written certification required by 
Section 15E(s)(4) of the Securities Exchange Act of 1934 (15 U.S.C. 78a 
et seq.) on Form ABS Due Diligence--15E (17 CFR 249b.500). Based on 
Commission staff's experience, it is estimated that third-party due 
diligence service providers would be required to spend, on average, 
0.20 hours to complete and transmit Form ABS Due Diligence--15E, for a 
total annual burden of 470 hours.\1\ The cost for a compliance manager 
to complete and submit Form ABS Due Diligence--15E pursuant to Rule 
17g-10 is estimated at $372 per hour,\2\ resulting in an industry-wide 
annual internal cost to third-party service providers of $175,000 per 
year.
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    \1\ This figure is calculated by multiplying the per year 
average number of offerings of asset-backed securities, as the term 
is defined in Section 3(a)(79) of the Exchange Act, which was 
estimated at 1,410 offerings, by the hour burden to complete and 
transmit Form ABS Due Diligence--15E estimated at 0.20 hours (1,410 
offerings x 0.20 hours = 470 hours).
    \2\ The $372 figure for a compliance manager is based on SIFMA's 
Management & Professional Earnings in the Securities Industry 2013, 
modified by Commission staff to account for an 1,800-hour work-year 
and multiplied by 5.35 to account for bonuses, firm size, employee 
benefits and overhead, as adjusted for inflation using the Bureau of 
Labor Statistics' CPI Inflation Calculator.
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    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) [email protected] 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 24, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-14224 Filed 6-27-24; 8:45 am]
BILLING CODE 8011-01-P