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SEC Adopts New Rules for Credit Rating Agencies
March 16, 2009 Full PDF
The Securities and Exchange Commission has issued new rules under the Credit Rating Agency Reform Act of 2006 that will become effective on April 10. The new SEC rules are designed to address practices identified by the SEC staff in its initial examinations of the three largest NRSROs and, specifically, to address concerns about the integrity of the process by which NRSROs rate structured finance products, particularly mortgage related securities.