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

Forms and Documents

Document Name	Status
2014 Rule 17g-7 Supporting Statement v2.pdf Supporting Statement A	2014-05-19

IC Document Collections

IC ID	Document Title	Status
191790	17g-7: Reports to be made public by nationally recognized statistical rating organizations	Modified

ICR Details

OMB Control No: 3235-0656	ICR Reference No: 201402-3235-008
Status: Historical Active	Previous ICR Reference No: 201102-3235-005
Agency/Subagency: SEC	Agency Tracking No: TM-270-600
Title: Rule 17g-7 : Reports to be made public by nationally recognized statistical rating organizations (NRSROs)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/06/2014
	Date Received in OIRA: 04/29/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2017	36 Months From Approved	07/31/2014
Responses	8,268	0	8,268
Time Burden (Hours)	91,948	0	96,948
Cost Burden (Dollars)	0	0	0

---

Abstract: Under Rule 17g-7, each NRSRO, on an annual basis, must 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.

---

Authorizing Statute(s): 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
  

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 10847	02/26/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 23388	04/28/2014
Did the Agency receive public comments on this ICR? Yes

---

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
17g-7: Reports to be made public by nationally recognized statistical rating organizations

---

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	8,268	8,268	0	0	0	0
Annual Time Burden (Hours)	91,948	96,948	0	0	-5,000	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease in the total aggregate annual burden from 96,948 hours to 91,948 hours is attributable to: (i) the change in calculating the number of respondents as described in detail in the Supporting Statement (which resulted in a reduction of 2,000 hours annually) and (ii) the elimination of 3,000 initial hours (100 hours per respondent) to conduct an initial review and setup as part of previously estimated start-up costs.

---

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]? No

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

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  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:

(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: 04/29/2014

---