Proposed Rule 17g-3 would implement
certain statutory provisions of the Credit Rating Agency Reform Act
of 2006 ("Rating Agency Act") by requiring a nationally recognized
statistical rating organization or "NRSRO" to furnish audited
financial statements to the Securities and Exchange Commission that
must be certified by an independent public accountant. 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 the Rating
Agency Act and its implementing regulations.
The Rating Agency Act added a
new Section 15E, Registration of Nationally Recognized Statistical
Rating Organizations, to the Securities Exchange Act of 1934
(Exchange Act). Section 15E(a)(1) of the Exchange Act requires a
credit rating agency applying for registration with the Commission
as an NRSRO under Section 15E to furnish an application in a form
prescribed by Commission rule containing certain specified
information and such other information as the Commission prescribes
as necessary or appropriate in the public interest or for the
protection of investors.
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Sheila Swartz 202
551-5545
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:
(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;
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.