SEC to Broach Rating Agency Oversight With Congress

Hume, Lynn
March 2005
Bond Buyer;3/10/2005, Vol. 351 Issue 32087, p5
Trade Publication
Reports on the plan of the U.S. Securities and Exchange Commission (SEC) to launch talks with Senate Banking Committee members and other lawmakers about the possibility of Congress giving the SEC legislative authority to oversee credit rating agencies. Call of credit rating agencies for a voluntary framework of oversight; Need to consider a number of important policy before SEC can go further with the voluntary program; Intention of the commission to discuss with bank regulators a proposed rule that would require banks to push out their broker-age related activities into separate broker-dealer affiliates.


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