; (B) be nonproprietary; (C) incorporate standards developed and maintained by voluntary consensus standards bodies; and (D) be consistent with and implement applicable accounting and reporting principles. (3) Incorporation of standards In adopting data standards by rule under this subsection, the Commission shall incorporate all applicable data standards promulgated by the Secretary of the Treasury. . (c) Data standards for information required To be submitted or published by nationally recognized statistical rating organizations Section 15E of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o–7 ) is amended by adding at the end the following: (w) Data standards for information required To be submitted or published under this section (1) Requirement The Commission shall, by rule, adopt data standards for all information required to be submitted or published by a nationally recognized statistical rating organization under this section. (2) Characteristics The data standards required by paragraph (1) shall, to the extent practicable— (A) render information fully searchable and machine-readable; (B) be nonproprietary; (C) incorporate standards developed and maintained by voluntary consensus standards bodies; and (D) be consistent with and implement applicable accounting and reporting principles. (3) Incorporation of standards In adopting data standards by rule under this subsection, the Commission shall incorporate all applicable data standards promulgated by the Secretary of the Treasury. . (d) Data standards for asset-Backed securities disclosures Section 7(c) of the Securities Act of 1933 ( 15 U.S.C. 77g(c) ) is amended by adding at the end the following: (3) Data standards for asset-backed securities disclosures (A) Requirement The Commission shall, by rule, adopt data standards for all disclosures required under this subsection. (B) Characteristics The data standards required by subparagraph (A) shall, to the extent practicable— (i) render information fully searchable and machine-readable