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

Forms and Documents

Document Name	Status
PRA 17g-1 Version D Supporting Statement.pdf Supporting Statement A	2012-07-24

IC Document Collections

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

ICR Details

OMB Control No: 3235-0625	ICR Reference No: 201207-3235-021
Status: Historical Inactive	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: Comment filed on proposed rule and continue	Conclusion Date: 10/18/2012
	Date Received in OIRA: 07/24/2012
Terms of Clearance: Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). In accordance with 5 CFR 1320, OMB is withholding approval at this time. The agency shall examine public comment in response to the NPRM and will include in the supporting statement of the next ICR--to be submitted to OMB at the final rule stage--a description of how the agency has responded to any public comments on the ICR, including comments on maximizing the practical utility of the collection and minimizing the burden.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2015	06/30/2015	06/30/2015
Responses	34	0	34
Time Burden (Hours)	839	0	839
Cost Burden (Dollars)	0	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	Proposed rulemaking	76 FR 33420	06/08/2011

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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
Application for Registration - ICR1
Withdrawal - ICR6
Amending for Categories - ICR4
Notice of Withdrawal - ICR5
Annual certification - ICR3
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
EDGAR requirement - ICR12
Transition and default rates (Exhibit 1) - ICR13

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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: Rule 17g-1 and Form NRSRO are being amended due to the Dodd-Frank Act. In addition, there has been a change in agency estimates regarding the number of respondents to the information collection requests under this rule.

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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: 07/24/2012

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