Type:Notice
Citation:89 FR 101080
Reading Time:about 2 minutes
The Securities and Exchange Commission (SEC) is seeking public comments on Rule 17g-4, which is under the Securities Exchange Act of 1934. This rule requires nationally recognized statistical rating organizations (NRSROs) to have procedures to protect nonpublic information and to prevent unauthorized trading on such information. The SEC aims to get a renewed approval for this rule from the Office of Management and Budget. They invite feedback on the necessity and efficiency of the information collection until February 11, 2025.
Simple Explanation
The SEC wants opinions on a rule that asks certain companies to protect secrets and not cheat using hidden info. They're checking if the rule is good and if following it takes too much time.