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ARTICLE · 09 JULY 2008

SEC Proposes Rule Changes Relating To Credit Ratings On Asset-Backed Securities

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On June 11, 2008, the Securities and Exchange Commission voted to propose a series of rule changes that are meant to increase the transparency of the credit ratings process and address practices that the Commission views as having contributed to recent turmoil in the credit markets.

United StatesFinance and Banking
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By Jon D. Van Gorp , Robert F. Hugi , Jason H.P. Kravitt and Stuart Litwin

Originally published June 25, 2008

Keywords: SEC, credit rating, asset-backed securities, NRSRO, rating symbols, CRA Act, structured finance,

On June 11, 2008, the Securities and Exchange Commission voted to propose a series of rule changes that are meant to increase the transparency of the credit ratings process and address practices that the Commission views as having contributed to recent turmoil in the credit markets. The Commission's proposals fall in three categories:

  • Additional requirements that address concerns about the integrity of credit rating procedures used by nationally recognized statistical rating organizations (NRSROs);

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