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SEC Proposes Amendments to Rules That Would Reduce Reliance on Credit Ratings
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| Alston & Bird LLP |
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On June 25, 2008, in an open meeting, the U.S. Securities and Exchange Commission (SEC) discussed potential changes to its rules and regulations regarding the use of statistical ratings by nationally recognized statistical rating organizations (NRSROs). Specifically, the SEC noted that its staff examined 44 rules relating to the use of NRSRO ratings in the context of bond issuances and structured products and has recommended amendments to 38 of these rules, including eliminating all references to NRSROs in 11 such rules. The announcement comes on the heels of other recently proposed changes in the way that the SEC regulates NRSROs, all of which are designed to improve the transparency of credit ratings and/or reduce investor reliance on credit ratings in making investment decisions.
Click Here to Read the SEC Announced Proposals.
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| Disclaimer |
| This Advisory is published by Alston & Bird LLP to provide a summary of significant developments to our clients and friends. It is intended to be informational and does not constitute legal advice regarding any specific situation. |
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