Rule 17g-8 Policies and
procedures and Rule 17g-9 Standards of training, experience, and
competence for credit analysts
Extension without change of a currently approved collection
36 Months From Approved
Rule 17g-8 would require nationally
recognized statistical rating organizations ("NRSROs") to
establish, maintain and enforce certain policies and procedures
relating to credit rating methodologies, the use of credit rating
symbols, and look-back procedures for departing NRSRO employees.
Rule 17g-9 implements Section 936 of the Dodd-Frank Wall Street
Reform and Consumer Protection Act, which requires the Securities
and Exchange Commission to issue rules reasonably designed to
ensure that any person employed by a nationally recognized
statistical rating organization to determine credit ratings meets
standards of training, experience, and competence necessary to
produce accurate ratings for the categories of issuers whose
securities the person rates and is tested for knowledge of the
credit rating process.
Some of the change is due to a
decrease in the number of registered NRSROs (from ten to nine),
which is offset by a significant increase in the total number of
analysts employed by the registered NRSROs.