Rating Agency Reform Still Elusive Despite SEC Reproach

Law360, New York (November 19, 2012, 7:57 PM EST) -- The nation's top credit-rating agencies may face renewed pressure to reform their practices in the wake of a stinging U.S. Securities and Exchange Commission report Thursday, but attorneys say the broad industry crackdown envisioned by the Dodd-Frank Act remains a long way off.

The SEC's report took aim at credit-rating firms for allegedly changing their rating methods without telling anyone and not downgrading securities in a timely fashion. In some cases, firms also failed to disclose conflicts of interest or implement ethics policies for employees, the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.