[Federal Register Volume 83, Number 89 (Tuesday, May 8, 2018)]
[Notices]
[Pages 20891-20892]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-09691]
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SECURITIES AND EXCHANGE COMMISSION
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:
Regulation AC; SEC File No. 270-517, OMB Control No. 3235-0575
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (``PRA'') (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 Regulation Analyst
Certification (``Regulation AC'') (17 CFR 242.500-505, 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 (``OMB'') for extension and approval.
Regulation AC requires that research reports published, circulated,
or provided by a broker or dealer or covered person contain a statement
attesting that the views expressed in each research report accurately
reflect
[[Page 20892]]
the analyst's personal views and whether or not the research analyst
received or will receive any compensation in connection with the views
or recommendations expressed in the research report. Regulation AC also
requires broker-dealers to, on a quarterly basis, make, keep, and
maintain records of research analyst statements regarding whether the
views expressed in public appearances accurately reflected the
analyst's personal views, and whether any part of the analyst's
compensation is related to the specific recommendations or views
expressed in the public appearance. Regulation AC also requires that
research prepared by foreign persons be presented to U.S. persons
pursuant to Securities Exchange Act Rule 15a-6 and that broker-dealers
notify associated persons if they would be covered by the regulation.
Regulation AC excludes the news media from its coverage.
The Commission estimates that Regulation AC imposes an aggregate
annual time burden of approximately 25,844 hours on 5,186 respondents,
or approximately 5 hours per respondent. The Commission estimates that
the total annual internal cost of compliance for the 25,844 hours is
approximately $12,452,349, or approximately $2,401 per respondent,
annually.
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
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 under the PRA unless it
displays a currently valid OMB control number.
Please direct your written comments to: Pamela Dyson, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE, Washington, DC 20549, or send an email
to: [email protected].
Dated: May 1, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-09691 Filed 5-7-18; 8:45 am]
BILLING CODE 8011-01-P