Credit Rating Agencies Faulted In SEC Review

By Christine Caulfield

Law360, New York (July 09, 2008, 12:00 AM ET) -- The top three U.S. credit rating agencies, whose high approval of mortgage-backed securities has faced scrutiny in the wake of the subprime mortgage fiasco, mismanaged conflicts of interests and kept investors in the dark, the U.S. Securities and Exchange Commission said Tuesday.

The SEC's 10-month review of the three major U.S. ratings agencies – Fitch Ratings Ltd., Moody's Investor Services Inc., and Standard & Poor's Ratings Services – found that the firms struggled to cope with the growth in number and complexity of Wall Street deals...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles