United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2009_register executive 2009-10-09 article Part IV Rules and Regulations D09002ee1c8033ce6 D09002ee1c8033dd8 United States Securities and Exchange Commission originator org United States Government Agency or Subagency The Securities and Exchange Commission ("Commission") is adopting amendments to certain of its rules and forms to remove references to securities credit ratings. The Commission is eliminating certain references to credit ratings issued by nationally recognized statistical rating organizations ("NRSROs") in rules and forms under the Securities Exchange Act of 1934 related to the regulation of self- regulatory organizations and alternative trading systems, and in rules under the Investment Company Act of 1940 that affect an investment company's ability to purchase refunded securities and securities in underwritings in which an affiliate is participating. The Commission believes that the references to credit ratings in these rules and forms are no longer warranted as serving their intended purposes. The amendments are designed to address concerns that references to NRSRO ratings in Commission rules may have contributed to an undue reliance on those ratings by market participants. In a companion release, the Commission is re-opening the comment period for certain other proposed rule and form amendments that would eliminate additional references to NRSRO ratings. 74 FR 52358 https://www.govinfo.gov/app/details/FR-2009-10-09/E9-24364 E9-24364 FR09OC09-18 RIN 3235-AK17 RIN 3235-AK19 8011-01-P Release Nos. 34-60789, IC-28939 File Nos. S7-17-08, S7-19-08 https://www.govinfo.gov/app/details/FR-2009-10-09/E9-24364 https://www.govinfo.gov/content/pkg/FR-2009-10-09/html/E9-24364.htm https://www.govinfo.gov/content/pkg/FR-2009-10-09/pdf/E9-24364.pdf Broker Reporting and Recordkeeping Requirements Securities Investment Companies 16 p. 52358 52373 74 FR 52358 Title 17 Part 240 17 CFR Part 240 Title 17 Part 242 17 CFR Part 242 Title 17 Part 249 17 CFR Part 249 Title 17 Part 270 17 CFR Part 270 RIN 3235-AK17 RIN 3235-AK19 References to Ratings of Nationally Recognized Statistical Rating Organizations; Federal Register Vol. 74, Issue RULE E9-24364 IV SECURITIES AND EXCHANGE COMMISSION 2009-11-12 Release Nos. 34-60789, IC-28939 File Nos. S7-17-08, S7-19-08 8011-01-P E9-24364 Final rule.

The Securities and Exchange Commission ("Commission") is adopting amendments to certain of its rules and forms to remove references to securities credit ratings. The Commission is eliminating certain references to credit ratings issued by nationally recognized statistical rating organizations ("NRSROs") in rules and forms under the Securities Exchange Act of 1934 related to the regulation of self- regulatory organizations and alternative trading systems, and in rules under the Investment Company Act of 1940 that affect an investment company's ability to purchase refunded securities and securities in underwritings in which an affiliate is participating. The Commission believes that the references to credit ratings in these rules and forms are no longer warranted as serving their intended purposes. The amendments are designed to address concerns that references to NRSRO ratings in Commission rules may have contributed to an undue reliance on those ratings by market participants. In a companion release, the Commission is re-opening the comment period for certain other proposed rule and form amendments that would eliminate additional references to NRSRO ratings.

Effective Date: November 12, 2009. For the rule and form amendments under the Securities Exchange Act of 1934, Michael Gaw, Assistant Director, at (202) 551-5602, Brian Trackman, Special Counsel, at (202) 551-5616, and Sarah Albertson, Special Counsel, at (202) 551-5647, in the Division of Trading and Markets; for rules under the Investment Company Act of 1940, Penelope W. Saltzman, Assistant Director, and Daniel K. Chang, Attorney, at (202) 551-6792, in the Division of Investment Management, at the Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549. Broker Reporting and Recordkeeping Requirements Securities Investment Companies References to Ratings of Nationally Recognized Statistical Rating Organizations , http://www.fitchratings.com/creditdeskreports/report_frame.cfm?rpt_id=431370 http://www.moodys.com/moodys/cust/research/MDCdocs/29/2006700000441141.pdf?doc_id=2006700000441141&frameOfRef=municipal http://www.sec.gov/comments/s7-17-08/s71708.shtml http://www.sec.gov/comments/s7-19-08/s71908.shtml http://www2.standardandpoors.com/portal/site/sp/en/us/page.article/2,1,1,0,1204836565946.html#ID199 Vol. 74, no. 195 Office of the Federal Register, National Archives and Records Administration 2009-10-09 continuing daily deposited born digital 260 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2009-10-09 P0b002ee1800c377d 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:FR09OC09 https://www.govinfo.gov/app/details/FR-2009-10-09 https://www.govinfo.gov/content/pkg/FR-2009-10-09/pdf/FR-2009-10-09.pdf https://www.govinfo.gov/content/pkg/FR-2009-10-09/xml/FR-2009-10-09.xml fdlp 52129 52381 DGPO 2009-10-09 2024-06-04 FR-2009-10-09 machine generated eng FR FR-2009-10-09 74 195