We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SEC Big-Wig Urges Competition For Credit Agencies

Law360 (May 22, 2006, 12:00 AM EDT) -- The U.S. Security and Exchange Commission’s process for certifying credit-rating agencies discourages competition in the industry, SEC Commissioner Cynthia Glassman said in a speech last week.

Glassman attacked an SEC proposal that requires a credit-rating agency to be “nationally recognized” before being certified by the agency, a stipulation that she said may be anti-competitive.

The proposal in question, released for public comment in 2005, was designed to add transparency to the process by which credit-rating agencies receive SEC certification and become Nationally Recognized Statistical Rating Organizations....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.