Skip to main content
An official website of the United States government
The .gov means it's official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you're on a federal government site.
The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Search:
Agenda
Reg Review
ICR
This script is used to control the display of information in this page.
Display additional information by clicking on the following:
All
Brief and OIRA conclusion
Abstract/Justification
Legal Statutes
Rulemaking
FR Notices/Comments
IC List
Burden
Misc.
Common Form Info.
Certification
View Information Collection (IC) List
View Supporting Statement and Other Documents
Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0649
ICR Reference No:
201411-3235-006
Status:
Historical Active
Previous ICR Reference No:
201409-3235-019
Agency/Subagency:
SEC
Agency Tracking No:
OCR-270-581
Title:
Rule 17g-5 Conflicts of Interest
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:
10/22/2015
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/21/2015
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2018
36 Months From Approved
10/31/2015
Responses
3,620
0
3,620
Time Burden (Hours)
278,051
0
278,052
Cost Burden (Dollars)
67,000
0
67,000
Abstract:
Rule 17g-5 implements certain statutory provisions of the Credit Rating Agency Reform Act of 2006 ("Rating Agency Act") by prohibiting, or requiring the managemnt and disclosure of, any potential conflict of interest relating to the issuance of credit ratings by a nationally recognized statistical rating organization or "NRSRO". This collection of information is necessary by addressing potential practices that could impair the objectivity and the quality of a credit rating.
Authorizing Statute(s):
US Code:
15 USC 780-7
Name of Law: Credit Rating Agency Reform Act of 2006
Citations for New Statutory Requirements:
US Code: 15 USC 780-7 Name of Law: Credit rating Agency Reform Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
80 FR 15039
03/20/2015
30-day Notice:
Federal Register Citation:
Citation Date:
80 FR 29376
05/21/2015
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
9
IC Title
Form No.
Form Name
Annual Certification
Arranger disclosure systems
Arranger form upload
Arranger ongoing disclosure
Arranger transaction disclosures
NRSRO conflict policies update
NRSRO exemption request
NRSRO structured finance ratings disclosure
NRSRO template redrafting
ICR Summary 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
3,620
3,620
0
0
0
0
Annual Time Burden (Hours)
278,051
278,052
0
0
-1
0
Annual Cost Burden (Dollars)
67,000
67,000
0
0
0
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 industry-wide change in burden resulting from updated estimates is approximately: a decrease of 12,444 hours in the annual disclosure burden for NRSROs; an increase in the annualized one-time disclosure burden for arrangers of structured finance products of 13,600 hours; an increase in the annual disclosure burden for arrangers of structured finance products of 2,720 hours; and an increase in the annual disclosure burden for arrangers of structured finance products of 102,000 hours. The industry-wide increase in burden resulting from the new rules and amendments to existing rules is approximately: an annualized one-time disclosure burden for NRSROs of 2,240 hours; an annual disclosure burden for arrangers of structured finance products of 119 hours; an annualized one-time reporting burden for NRSROs of 417 hours; and an annualized one-time reporting burden for NRSROs of $67,000 and 500 hours.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
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]?
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
Agency Contact:
Christian Broadbent 202 551-2811 broadbentc@sec.gov
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:
05/21/2015
An official website of the United States government
The .gov means it's official.
The site is secure.
