Rule 17g-1 and Form NRSRO -Application for registration as a nationally recognized statistical rating organization

Forms and Documents

Document Name	Status
Form SEC1541 Form NRSRO - ICR1 Form and Instruction	Modified
Rule 17g-1 and Form NRSO Supporting Statement (Final).docx Supporting Statement A	2014-09-10

IC Document Collections

IC ID	Document Title	Status
213062	Additional Disclosures in Exhibit 6	New
203452	Transition and default rates (Exhibit 1) - ICR13	Removed
203451	EDGAR requirement - ICR12	Modified
203450	Exhibit 1 available on request - ICR11	Modified
203449	Exhibits 1-9 and Form Available on website - ICR10	Unchanged
203448	Exhibit 6 amendments - ICR9	Modified
203447	Exhibit 2 amendments - ICR8	Unchanged
203446	Website Posting - ICR7	Modified
200915	Withdrawal - ICR6	Unchanged
200914	Notice of Withdrawal - ICR5	Unchanged
200913	Amending for Categories - ICR4	Modified
200912	Annual certification - ICR3	Unchanged
200911	Amending for material inaccuracies - ICR2	Unchanged
179199	Form NRSRO - ICR1 Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0625	ICR Reference No: 201411-3235-005
Status: Historical Active	Previous ICR Reference No: 201201-3235-004
Agency/Subagency: SEC	Agency Tracking No: TM-270-563
Title: Rule 17g-1 and Form NRSRO -Application for registration as a nationally recognized statistical rating organization
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/19/2014
	Date Received in OIRA: 11/19/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2017	36 Months From Approved	06/30/2015
Responses	117	0	34
Time Burden (Hours)	4,160	0	839
Cost Burden (Dollars)	57,333	0	0

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Abstract: Rule 17g-1 and Form NRSRO govern the application to become a nationally recognized statistical rating organization.The collection of information included in Rule 17g-1 is necessary to allow the Commission to determine whether a credit rating agency meets the requirements for registration as an NRSRO.

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Authorizing Statute(s): US Code: 15 USC 78a Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-7 Name of Law: Credit Rating Agency Reform Act of 2006
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 203 931-939H Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL15	Final or interim final rulemaking	79 FR 55078	09/15/2014

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 13

IC Title	Form No.	Form Name
Amending for material inaccuracies - ICR2
Form NRSRO - ICR1	SEC1541	APPLICATION FOR REGISTRATION AS A NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION (NRSRO)
Withdrawal - ICR6
Website Posting - ICR7
Exhibit 2 amendments - ICR8
Exhibit 6 amendments - ICR9
Exhibits 1-9 and Form Available on website - ICR10
Exhibit 1 available on request - ICR11
Amending for Categories - ICR4
Notice of Withdrawal - ICR5
Annual certification - ICR3
EDGAR requirement - ICR12
Transition and default rates (Exhibit 1) - ICR13
Additional Disclosures in Exhibit 6

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	117	34	0	70	13	0
Annual Time Burden (Hours)	4,160	839	0	3,321	0	0
Annual Cost Burden (Dollars)	57,333	0	0	57,333	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The changes in burden figures are due to several amendments the Commission made to Rule 17g-1 and to the instructions for Exhibit 1 to Form NRSRO. These amendments were designed to, among other things, implement the rulemaking specified under the Exchange Act and to make relevant information more readily accessible to investors and other users of credit ratings.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/10/2014

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