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

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
3235-0656 60 Day Notice.pdf	Supplementary Document	Uploaded 2021-07-15	Repair queued
3235-0656 30 Day Notice.pdf	Supplementary Document	Uploaded 2021-07-15	Repair queued
PRA Rule 17g-7 Supporting Statement_2021_renewal_revised_2ndcomment.docx	Supporting Statement A	Uploaded 2021-07-15	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
237184	Rule 17g-7 one-time burden to update standardized disclosures		Removed
216079	Rule 17g-7(b) annual disclosure burden		Modified
216067	Rule 17g-7(a) annual disclosure burden to generate and publish forms		Modified
216066	Rule 17g-7(a) annual disclosure burden for updating the standardized disclosures		Modified

ICR Details

OMB Control No: 3235-0656	ICR Reference No: 202104-3235-010
Status: Historical Active	Previous ICR Reference No: 201907-3235-041
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: 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: 09/07/2021
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/15/2021
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2024	36 Months From Approved	11/30/2022
Responses	2,071,062	0	40
Time Burden (Hours)	695,253	0	695,847
Cost Burden (Dollars)	0	0	0

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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.

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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

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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:
	86 FR 22286	04/27/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 36173	07/08/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

table that charts list of burden

IC Title	Form No.	Form Name
Rule 17g-7 one-time burden to update standardized disclosures
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) annual disclosure burden

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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	2,071,062	40	0	2,071,032	-10	0
Annual Time Burden (Hours)	695,253	695,847	0	-544	-50	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Small decrease in the annual burden due to a decrease in the number of registered NRSROs from 10 to 9, and expiration of a one-time burden.

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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.     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? No

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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: 07/15/2021

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