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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form SEC1541 Form NRSRO - ICR1	Form and Instruction	Modified	Available
Rule 17g-1 and Form NRSO Supporting Statement_final.pdf	Supporting Statement A	Uploaded 2018-01-12	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
213062	Additional Disclosures in Exhibit 6		Removed
203451	EDGAR requirement - ICR12		Removed
203450	One-time initial application outside counsel cost		Modified
203449	Exhibits 1-9 and Form Available on website - ICR10		Removed
203448	Exhibit 6 amendments - ICR9		Removed
203447	Exhibit 2 amendments - ICR8		Removed
203446	Website Posting - ICR7		Removed
200915	Withdrawal - ICR6		Removed
200914	Notice of Withdrawal - ICR5		Removed
200913	Amending for Categories - ICR4		Removed
200912	Annual certification - ICR3		Removed
200911	Amending for material inaccuracies - ICR2		Removed
179199	Form NRSRO - ICR1	Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0625	ICR Reference No: 201705-3235-005
Status: Historical Active	Previous ICR Reference No: 201411-3235-005
Agency/Subagency: SEC	Agency Tracking No: OCR-270-563
Title: Rule 17g-1 and Form NRSRO -Application for registration as a nationally recognized statistical rating organization
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 with change	Conclusion Date: 02/07/2018
Retrieve Notice of Action (NOA)	Date Received in OIRA: 11/09/2017
Terms of Clearance: Updated during review.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2021	36 Months From Approved	02/28/2018
Responses	11	0	117
Time Burden (Hours)	2,750	0	4,160
Cost Burden (Dollars)	9,333	0	57,333

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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: None

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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:
	82 FR 25648	06/02/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 46116	10/03/2017
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
Additional Disclosures in Exhibit 6
Amending for Categories - ICR4
Amending for material inaccuracies - ICR2
Annual certification - ICR3
EDGAR requirement - ICR12
Exhibit 2 amendments - ICR8
Exhibit 6 amendments - ICR9
Exhibits 1-9 and Form Available on website - ICR10
Form NRSRO - ICR1	SEC1541	APPLICATION FOR REGISTRATION AS A NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION (NRSRO)
Notice of Withdrawal - ICR5
One-time initial application outside counsel cost
Website Posting - ICR7
Withdrawal - ICR6

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ICR Summary of Burden

table that charts list 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	11	117	0	0	-106	0
Annual Time Burden (Hours)	2,750	4,160	0	0	-1,410	0
Annual Cost Burden (Dollars)	9,333	57,333	0	0	-48,000	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 estimated burden on respondents is calculated based on the 10 credit rating agencies currently registered as NRSROs under Section 15E of the Exchange Act. In response to the comment received, the Commission has adjusted the total estimated industry-wide ongoing burden from 2,527 hours to 2,750 hours. The Commission expects that these 10 entities have already established the recordkeeping and disclosure policies and procedures required by Rule 17g-1 and Form NRSRO. The one-time burden that is associated with the previous amendments to the rule were removed.

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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.     Yes

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.     Yes

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

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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: 11/09/2017

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