Rule 17g-3 Annual financial and other reports to be filed or furnished by nationally recognized statistical rating organizations

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
3235-0626.pdf	Supplementary Document	Uploaded 2024-04-17	Repair queued
3235-0626.pdf	Supplementary Document	Uploaded 2024-04-17	Repair queued
2024 17g-3 supporting statement.docx	Supporting Statement A	Uploaded 2024-04-11	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
213083	Preparation of Rule 17g-3(a)(7) Internal Controls Report		Modified
179754	Annual Financial Report containing Audited and Unaudited Financial Statements and Other Financial Condition Reports		Modified

ICR Details

OMB Control No: 3235-0626	ICR Reference No: 202404-3235-009
Status: Active	Previous ICR Reference No: 202103-3235-002
Agency/Subagency: SEC	Agency Tracking No: OCR-270-565
Title: Rule 17g-3 Annual financial and other reports to be filed or furnished by nationally recognized statistical rating organizations
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/21/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/17/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2027	36 Months From Approved	07/31/2024
Responses	20	0	18
Time Burden (Hours)	3,650	0	3,285
Cost Burden (Dollars)	350,000	0	315,000

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Abstract: Rule 17g-3 implements certain provisions of Section 15E of the Securities Exchange Act of 1934, added to the Exchange Act by the Credit Rating Agency Reform Act of 2006 and amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act enacted in 2010, by requiring a nationally recognized statistical rating organization or "NRSRO" to furnish financial condition reports to the Securities and Exchange Commission. This collection of information is necessary to allow the Commission to oversee NRSROs registered with the Commission with respect to their financial condition and to monitor compliance with Section 15E and rules adopted thereunder.

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Authorizing Statute(s): US Code: 15 USC 78o-7(c) Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78q Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 78o-7(k) Name of Law: Securities Exchange Act of 1934
  

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:
	89 FR 8466	02/07/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 27470	04/17/2024
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
Annual Financial Report containing Audited and Unaudited Financial Statements and Other Financial Condition Reports
Preparation of Rule 17g-3(a)(7) Internal Controls Report

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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	20	18	0	2	0	0
Annual Time Burden (Hours)	3,650	3,285	0	365	0	0
Annual Cost Burden (Dollars)	350,000	315,000	0	35,000	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: No

Burden Reduction Due to:

Short Statement: The annual aggregate hour and cost burden for Rule 17g-3 has increased due to the increase in the number of NRSROs from 9 to 10.

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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: 04/17/2024

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