SEC approves stern new rules for credit rating agencies

04 Dec 2008

The US Securities and Exchange Commission announced on December 3 that it had approved measures to increase transparency and accountability in credit rating agencies. The SEC said it would ensure that firms provided more meaningful ratings and disclosed more information to investors.

The measures followed a...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.

SEC approves stern new rules for credit rating agencies

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