SEC Puts Credit Rating Vote On Back Burner

Law360, New York (December 3, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has decided to hold off on a vote regarding controversial potential reforms of the credit rating industry, postponing the tally for the second time.

The vote, which had been rescheduled for Dec. 3 last month, has been called off. The SEC provided no reason for the additional delay.

The proposed rule amendments have come under fire from Wall Street and industry groups that are hoping to leave the system unchanged.

The agency pushed forward with its plans to hold an...
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