Senate Panel OKs Credit-Rating Agency Bill
The Credit-Rating Agency Reform Act will allow the U.S. Securities and Exchange Commission to crack the whip on credit-rating firms. The SEC will also have the authority to tackle any conflicts of interest and any abusive or anti-competitive practices.
The bill also outlines requirements for agencies that are looking to be “nationally recognized” rating firms, such as having a glowing three-year record. The SEC will be able to...
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