OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Rule 17g-7 : Reports to be made public by nationally recognized statistical rating organizations (NRSROs)

ICR 201102-3235-005 · OMB 3235-0656 · Historical Active

Forms and Documents
DocumentTypeStatusAvailability
Rule 17g-7. RW PRA Supporting statement.1-26-2011.docx Supporting Statement A Uploaded 2011-02-02 Available
IC Document Collections
IC IDCollectionTypeStatusForm
191790 17g-7: Reports to be made public by nationally recognized statistical rating organizations Modified
ICR Details
3235-0656 201102-3235-005
Historical Active 201010-3235-019
SEC TM-270-600
Rule 17g-7 : Reports to be made public by nationally recognized statistical rating organizations (NRSROs)
New collection (Request for a new OMB Control Number)   No
Regular
Approved without change 03/22/2011
Retrieve Notice of Action (NOA) 02/03/2011
  Inventory as of this Action Requested Previously Approved
03/31/2014 36 Months From Approved
8,268 0 0
96,948 0 0
0 0 0
Under Rule 17g-7, each NRSRO, on an annual basis, would make publicly available on its Internet Web site a consolidated report that shows three items of information with respect to each person that paid the NRSRO to issue or maintain a credit rating. First, the NRSRO must disclose the percent of the net revenue attributable to the person that were earned by the NRSRO for that fiscal year from providing services and products other than credit rating services. Second, the NRSRO must indicate the relative standing of the person in terms of the person’s contribution to the revenue of the NRSRO for the fiscal year as compared with other persons who provided the NRSRO with revenue. Third, the NRSRO must identify all outstanding credit ratings paid for by the person.
US Code: 15 USC 77e, 77f, 77g, 77j, 77s(a) Name of Law: Securities Act of 1933
   US Code: 15 USC 77z-3 Name of Law: Securities Act of 1933
   US Code: 15 USC 78c(b), 78l, 78m, 78o, 78o-7 Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q, 78w, 78ll, 78mm Name of Law: Securities Exchange Act of 1934
  
PL: Pub.L. 111 - 203 943 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
3235-AK75 Final or interim final rulemaking 76 FR 4489 01/26/2011
Yes
1
IC Title Form No. Form Name
17g-7: Reports to be made public by nationally recognized statistical rating organizations
  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 8,268 0 8,268 0 0 0
Annual Time Burden (Hours) 96,948 0 96,948 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The amendments in Release No. 33-9175 implement the requirements of Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new burden of Rule 17g-7 is necessary to implement Section 943(1) which requires nationally recognized statistical rating organizations to provide disclosures on the use of representations, warranties and enforcement mechanisms in the market for asset-backed securities. Rule 17g-7 would result in 96,948 annual burden hours.
$100,000
No
No
No
Yes
No
Uncollected
Joseph Levinson 2025515598
  No
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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
02/03/2011