TITLE

Nazareth on NRSROs

AUTHOR(S)
Hume, Lynn
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/3/2003, Vol. 344 Issue 31607, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Three major U.S. rating agencies — Moody's Investors Service, Standard & Poor's Corp., and Fitch Ratings Inc.— are designated as NRSROs by the SEC, and issuers are allowed to rely on their ratings to comply with requirements under its Rule 2a-7 on tax-exempt money market funds and other rules. “I think where we are is … we either have to stop giving the [NRSRO] designations and say we have no oversight responsibility over rating agencies … or, if we continue to use the designation, we're going to have to do more rigorous oversight,” Annette Nazareth, the director of the SEC's market regulation division, told members of the House Financial Services capital markets subcommittee.
ACCESSION #
9541357

 

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