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Easy, Secure Solution for your Non-Paying NRSRO Requirements (SEC Rule 17g-5)

Secure Document Delivery with Built-in Customizable Confidentiality Agreement, and Online Activity Logging.

The Securities and Exchange Commission has adopted rule amendments that impose additional disclosure and conflict of interest requirements on nationally recognized statistical rating organizations (“NRSROs”) in order to address concerns about the integrity of the credit rating procedures and methodologies at NRSROs.

One challenge for a company needing to share financial documents with NON-PAYING NRSRO's is to do so efficiently with proper confidiality safeguards, even though there may be no existing agreements in force between the Non-Paying NRSRO and your company.

As outlined in Amendments to Rules for Nationally Recognized Statistical Rating Organizations (17 CFR Parts 240 and 243, Page 66):

The Commission is not requiring NRSROs accessing this information to enter into a confidentiality agreement with the arrangers. However, the Commission is sensitive to the concerns of commenters advocating such a requirement, namely that an arranger has a confidentiality agreement it could enforce directly itself.

Accordingly, the representations an NRSRO must obtain from an arranger will not prevent the arranger from employing a simple process requiring non-hired NRSROs to agree to keep the information they obtain from the arranger confidential, provided that such a process does not operate to preclude, discourage, or significantly impede non-hired NRSROs’ access to the information, or their ability to issue a credit rating based on the information.

For example, an arranger could interpose a confidentiality agreement in a window (click-through screen) on the Internet Web site that appears after the NRSRO successfully enters its password to access the information and which requires the NRSRO to hit an “Agree” button before being directed to the information to be used to determine the credit rating.

My Docs Online offers a specially configured solution to meet your Non-Paying NRSRO needs:

  • Easily updated document repository accessible online
  • Unique ID and password for each NRSRO
  • View Only access for NRSROs
  • Customizable Confidentiality Agreement that must be accepted at each login
  • Activity Logs show each login, acceptance/rejection of agreement, file downloads
  • Timestamped confidentiality agreement shows which agreement was in force at the time of login and acceptance

Standard Enterprise Edition Pricing applies, plus a one-time set-up fee.

See a demo (use "NRSRO" for the ID and "testit" for the password)

Email us here with questions or to set up a custom trial for your company.