On April 22, 2021, the SEC announced that, pursuant to the Paperwork Reduction Act of 1995, it has proposed a collection and comment request on the existing collection of information set forth in Rule 17g-7 under the Securities Exchange Act of 1934. The SEC will submit this existing collection of information to the Office of Management and Budget (OMB) for extension and approval.
Rule 17g-7 is comprised of disclosure requirements for Nationally Recognized Statistical Rating Organizations (NRSROs), including: (1) mandatory credit rating histories in XBRL format using the SEC’s Record of Credit Ratings Taxonomy; and (2) certain information to be published when taking a rating action regarding a credit rating. At this time, there are nine credit rating agencies registered as NRSROs with the SEC.
The SEC is soliciting feedback and recommendations in writing within 60 days following the Notice’s publication in the Federal Register. Comments should include a currently valid control number. If a comment does not include a currently valid control number, the SEC may not conduct or sponsor the collection of information. Persons will not be penalized for failing to comply with a collection of information subject to the PRA that does not display a valid OMB control number.
Commenters may submit remarks on matters related to:
ways to lessen the burden of the collection of information on respondents, including via automated collection techniques or other forms of information technology
whether the proposed collection of information is necessary for the proper performance of the functions of the SEC, including whether the information has practical utility
the accuracy of the SEC’s estimates of the burden of the proposed collection of information
ways to enhance the quality, utility, and clarity of the information
Written comments should be mailed to: Dave Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F St NE, Washington, DC 20549 or emailed to: firstname.lastname@example.org.