Rule 17g-5 Conflicts of Interest

Forms and Documents

Document Name	Status
3235-0649 30 Day Notice.pdf Supplementary Document	2021-07-15
3235-0649 60 Day Notice.pdf Supplementary Document	2021-07-15
Rule 17g-5 Supporting Statement_2021_Renewal.docx Supporting Statement A	2021-06-15

IC Document Collections

IC ID	Document Title	Status
237182	One-time Burden to Update Process for Exemption	Removed
237181	Exemption to the rule with respect to ratings of certain structured finance products	Unchanged
213116	Arranger form upload	Modified
213114	Arranger ongoing disclosure	Unchanged
202290	Annual Certification	Modified
202289	Arranger transaction disclosures	Unchanged
188139	NRSRO structured finance ratings disclosure	Modified

ICR Details

OMB Control No: 3235-0649	ICR Reference No: 202102-3235-004
Status: Received in OIRA	Previous ICR Reference No: 201907-3235-040
Agency/Subagency: SEC	Agency Tracking No: OCR-270-581
Title: Rule 17g-5 Conflicts of Interest
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/15/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	10/31/2021
Responses	4,852	4,029
Time Burden (Hours)	263,306	262,466
Cost Burden (Dollars)	0	0

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Abstract: Rule 17g-5 implements certain statutory provisions of the Credit Rating Agency Reform Act of 2006 ("Rating Agency Act") by prohibiting, or requiring the managemnt and disclosure of, any potential conflict of interest relating to the issuance of credit ratings by a nationally recognized statistical rating organization or "NRSRO". This collection of information is necessary by addressing potential practices that could impair the objectivity and the quality of a credit rating.

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Authorizing Statute(s): US Code: 15 USC 780-7 Name of Law: Credit Rating Agency Reform Act of 2006
  

Citations for New Statutory Requirements: US Code: 15 USC 780-7 Name of Law: Credit rating Agency Reform Act

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 22294	04/27/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 36172	07/08/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
Annual Certification
Arranger form upload
Arranger ongoing disclosure
Arranger transaction disclosures
Exemption to the rule with respect to ratings of certain structured finance products
NRSRO structured finance ratings disclosure
One-time Burden to Update Process for Exemption

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ICR Summary of Burden

	Total Request	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	4,852	4,029	0	830	-7	0
Annual Time Burden (Hours)	263,306	262,466	0	875	-35	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Burden increase due to an increase in eligible Exchange Act-ABS offerings per year, and a reduction in the number of registered NRSROs.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

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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: 07/15/2021

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