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SEC RIN: 3235-AL08 Publication ID: Spring 2011 
Title: ●References to Credit Ratings in Certain Exchange Act Rules 
Abstract: The Division is considering recommending that the Commission propose amendments to rules under the Exchange Act that would remove references to credit ratings and substitute alternative standards of creditworthiness as required by section 939A of the Dodd- Frank Act. The Commission administers five Exchange Act Rules, Rule 15c3-1, Rule 15c3-3, Rules 101 and 102 of Regulation M, and Rule 10b-10 and one form, Form X-17A-5, Part IIB, -that will need to be amended for purposes of section 939A. 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 240.15c3-1    17 CFR 240.15c3-3    17 CFR 240.10b-10    17 CFR 242.101    17 CFR 242.102   
Legal Authority: Not Yet Determined   
Legal Deadline:
Action Source Description Date
Final  Statutory  The Dodd-Frank Act requires that the Commission adopt rules within one year of enactment.  07/21/2011 
Timetable:
Action Date FR Cite
NPRM  06/00/2011    
Final Action  07/00/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Undetermined 
Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Mark Attar
Division of Trading and Markets
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-5889
Email: attarm@sec.gov