Rule 15c3-1

SEC Removes References to NRSRO Ratings

On December 27, the SEC adopted amendments to eliminate references in certain of its rules and forms to credit ratings.  The changes were mandated by Dodd-Frank.  Rating references were removed from the following rules and forms:

  • Rule 5b-3 under the Investment Company Act;
  • Forms N-1A, N-2, and N-3;
  • Rule 15c3-1 (and certain appendices) under the Securities Exchange Act of 1934;
  • Rule 15c3-3 under the Securities Exchange Act of 1934; and
  • Rule 10b-10 under the Securities Exchange Act of 1934.

Release.  Final Rules #1.  Final Rules #2.