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

Forms and Documents

Document	Type	Status	Availability
PRA Rule 17g-7 Supporting Statement_2018 Renewal_Final_revised_proposed release.docx	Supporting Statement A	Uploaded 2018-10-12	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
233197	17g-7-One Time Burden Update Process for Exemption		New
216091	17g-7 Current asset-backed securities disclosure burden		Removed
216079	Rule 17g-7(b) annual disclosure burden		Modified
216069	Rule 17g-7(a) one time cost burden for outside professionals		Removed
216068	Rule 17g-7(b) one time disclosure burden associated with enhancements to the 100% Rule		Removed
216067	Rule 17g-7(a) annual disclosure burden to generate and publish forms		Unchanged
216066	Rule 17g-7(a) annual disclosure burden for updating the standardized disclosures		Unchanged
191790	Rule 17g-7(a) one-time disclosure burden		Removed

ICR Details

OMB Control No: 3235-0656	ICR Reference No: 201809-3235-019
Status: Historical Inactive	Previous ICR Reference No: 201805-3235-029
Agency/Subagency: SEC	Agency Tracking No: OCR-270-600
Title: Rule 17g-7 : Reports to be made public by nationally recognized statistical rating organizations (NRSROs)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 11/28/2018
	Date Received in OIRA: 10/15/2018
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2021	36 Months From Approved	09/30/2021
Responses	70	0	70
Time Burden (Hours)	800,845	0	800,845
Cost Burden (Dollars)	1,666,667	0	1,666,667

---

Abstract: Rule 17g-7 implements certain statutory provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to nationally recognized statistical rating organizations ("NRSROs"). Paragraph (a) of Rule 17g-7 requires an NRSRO to provide along with any credit rating that it publishes, a report containing an attestation and certain disclosures. Paragraph (b) of Rule 17g-7 requires an NRSRO to make available on its corporate Web site in XBRL format the rating action history of each outstanding credit rating that it determined on or after June 26, 2007.

---

Authorizing Statute(s): US Code: 15 USC 78o-7 Name of Law: Securities Act of 1933
   PL: Pub.L. 111 - 203 932 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: US Code: 15 USC 78o-7(q) and (s) Name of Law: Securities Exchange Act of 1934

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM05	Proposed rulemaking	83 FR 50297	10/05/2018

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Rule 17g-7(a) one time cost burden for outside professionals
17g-7-One Time Burden Update Process for Exemption
Rule 17g-7(a) one-time disclosure burden
17g-7 Current asset-backed securities disclosure burden
Rule 17g-7(b) annual disclosure burden
Rule 17g-7(a) annual disclosure burden for updating the standardized disclosures
Rule 17g-7(a) annual disclosure burden to generate and publish forms
Rule 17g-7(b) one time disclosure burden associated with enhancements to the 100% Rule

---

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: No

Burden Reduction Due to:

Short Statement: Burden increase is attributable to a proposed amendment to the exemption in Rule 17g-7(a).

---

Annual Cost to Federal Government:

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? 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: 10/15/2018

---