SEC Considers New Rules For Credit Rating Industry

Law360, New York (July 14, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission is looking at adding new regulations for credit rating firms, including limiting the potential for rating shopping, Chairwoman Mary L. Schapiro told a congressional subcommittee Tuesday.

In testimony before the U.S. House of Representatives Financial Services Committee's capital markets subcommittee, Schapiro said she had established a branch of examiners dedicated specifically to conducting examination oversight of the nationally recognized statistical rating organizations.

The branch will conduct routine, special and cause examinations of the ratings agencies to review activities and compliance...
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