View Information Collection Request (ICR) Package
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Brief and OIRA conclusion
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Burden
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Common Form Info.
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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:
3235-0625
ICR Reference No:
201409-3235-010
Status:
Historical Inactive
Previous ICR Reference No:
201207-3235-021
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-563
Title:
Rule 17g-1 and Form NRSRO -Application for registration as a nationally recognized statistical rating organization
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Preapproved
Conclusion Date:
11/18/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/10/2014
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2017
36 Months From Approved
06/30/2015
Responses
117
0
34
Time Burden (Hours)
4,160
0
839
Cost Burden (Dollars)
57,333
0
0
Abstract:
Rule 17g-1 and Form NRSRO govern the application to become a nationally recognized statistical rating organization.The collection of information included in Rule 17g-1 is necessary to allow the Commission to determine whether a credit rating agency meets the requirements for registration as an NRSRO.
Authorizing Statute(s):
US Code:
15 USC 78a
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 78o-7
Name of Law: Credit Rating Agency Reform Act of 2006
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 931-939H Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL15
Final or interim final rulemaking
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
13
IC Title
Form No.
Form Name
Additional Disclosures in Exhibit 6
Amending for Categories - ICR4
Amending for material inaccuracies - ICR2
Annual certification - ICR3
EDGAR requirement - ICR12
Exhibit 1 available on request - ICR11
Exhibit 2 amendments - ICR8
Exhibit 6 amendments - ICR9
Exhibits 1-9 and Form Available on website - ICR10
Form NRSRO - ICR1
SEC1541
Notice of Withdrawal - ICR5
Transition and default rates (Exhibit 1) - ICR13
Website Posting - ICR7
Withdrawal - ICR6
ICR Summary of Burden
Total Request
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
117
34
0
70
13
0
Annual Time Burden (Hours)
4,160
839
0
3,321
0
0
Annual Cost Burden (Dollars)
57,333
0
0
57,333
0
0
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:
Yes
Burden Reduction Due to:
Changing Regulations
Short Statement:
The changes in burden figures are due to several amendments the Commission made to Rule 17g-1 and to the instructions for Exhibit 1 to Form NRSRO. These amendments were designed to, among other things, implement the rulemaking specified under the Exchange Act and to make relevant information more readily accessible to investors and other users of credit ratings.
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]?
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
Agency Contact:
Harriet Orol 212 336-0554
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:
09/10/2014
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