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H.R. 3911: Risk-Based Credit Examination Act

Nov 7, 2017 at 6:29 p.m. ET. On Motion to Suspend the Rules and Pass in the House.

This was a vote to pass H.R. 3911 (115th) in the House. This vote was taken under a House procedure called “suspension of the rules” which is typically used to pass non-controversial bills. Votes under suspension require a 2/3rds majority. A failed vote under suspension can be taken again.

H.R. 3911 amends the Securities Exchange Act of 1934 (Exchange Act) to make risk-based the annual reporting requirements of the Nationally Recognized Statistical Rating Organizations (NRSROs). Specifically, the legislation reduces the disproportionate burden the current reporting requirements impose on small NRSROs while still maintaining the necessary transparency in reporting requirements. Under current law, the Office of Credit Ratings (OCR) within the Securities and Exchange Commission (SEC) conducts an annual examination of NRSROs—also known as credit rating agencies-in eight specified review areas and produces an annual report on its findings, regardless of the level of risk the eight areas present for a specific NRSRO. H.R. 3911 allows the SEC to more efficiently and effectively harness its resources by authorizing the OCR to tailor these reviews depending on the risks presented by these eight areas.

Source: Republican Policy Committee


All Votes R D
Yea 92%
Nay 8%
Not Voting

Passed. 2/3 Required. Source:

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