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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC 1541 Rule 17g-1 Application for registration as a nationally recognized statistical rating organization	Form and Instruction	Modified	Available
Rule 17g-1 Proposing Release.pdf	Supporting Statement B	Uploaded 2010-01-15	Available
2010 Rule 17g-1 Supporting Statement.doc	Supporting Statement A	Uploaded 2010-01-15	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
191788	Rule 17g-1 Application for registration as a nationally recognized statistical rating organization		New
191787	Rule 17g-1 Application for registration as a nationally recognized statistical rating organization		New
179199	Rule 17g-1 Application for registration as a nationally recognized statistical rating organization	Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0625	ICR Reference No: 201001-3235-008
Status: Historical Inactive	Previous ICR Reference No: 200902-3235-003
Agency/Subagency: SEC	Agency Tracking No: TM-270-563
Title: Rule 17g-1Application 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: Preapproved	Conclusion Date: 03/27/2010
	Date Received in OIRA: 01/20/2010
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2013	36 Months From Approved	06/30/2012
Responses	92	0	30
Time Burden (Hours)	2,162	0	6,400
Cost Burden (Dollars)	0	0	160,000

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Abstract: Rule 17g-1 implements certain statutory provisions of the Credit Rating Agency Reform Act of 2006 by requiring a credit rating agency to furnish an application to the Securities and Exchange Commission ("Commission") for registration as a nationally recognized statistical rating organization or "NRSRO" on Form NRSRO, by requiring an NRSRO to furnish amendments to the application on Form NRSRO, and by requiring an NRSRO to make certain of the information furnished with its application publicly available. 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 78o-7 Name of Law: Credit Rating Agency Reform Act of 2006
   PL: Pub.L. 109 - 291 a Name of Law: Credit Rating Agency Reform Act of 2006
   US Code: 15 USC 78a Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AK14	Proposed rulemaking	74 FR 63866	12/04/2009

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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: 3

table that charts list of burden

IC Title	Form No.	Form Name
Rule 17g-1 Application for registration as a nationally recognized statistical rating organization
Rule 17g-1 Application for registration as a nationally recognized statistical rating organization
Rule 17g-1 Application for registration as a nationally recognized statistical rating organization	SEC 1541	Form NSRO

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ICR Summary of Burden

table that charts list 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	92	30	0	62	0	0
Annual Time Burden (Hours)	2,162	6,400	0	-4,238	0	0
Annual Cost Burden (Dollars)	0	160,000	0	-160,000	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 to the one-time and annual hour burdens are due to the proposed amendment to Exhibit 6 to Form NRSRO. In addition, the prior PRA submission annualized the one-time hours over the three year approval period. This PRA submission does not annualize the one-time costs. Therefore, there is an overall decrease in the annual hours reflected in the prior approval.

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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]? Uncollected

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

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: 01/20/2010

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