Regulators Eye Credit Rating Industry Reforms

Law360, New York (June 5, 2008, 12:00 AM EDT) -- Regulators are circling the credit rating agencies, aiming to reform a $5 billion industry in the wake of the subprime mortgage meltdown. But their efforts on a variety of fronts are raising questions of exactly how far they'll push the industry to overhaul its practices.

Dominated by three agencies — Moody's Investors Service, Standard & Poor's and Fitch Ratings — the credit rating industry has come under fire for not doing enough to alert investors about risky mortgage-backed securities.

On Wednesday, the U.S. Securities and Exchange...
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