The Securities and Exchange Commission will hold a roundtable on 15 April to examine oversight of credit rating agencies. Discussion topics will include issues related to recent SEC rulemaking initiatives, such as conflicts of interest, competition, and transparency.
The Commission has adopted two major rulemakings, has conducted an extensive 10-month examination of three major credit rating agencies, and has several pending proposals to further the Credit Rating Agency Reform Act’s purpose of promoting accountability, transparency, and competition in the rating industry.
“Although our statutory authority to regulate rating agencies has only been effective for less than two years, it is clearly one of this agency’s most important responsibilities,” says Mary L. Schapiro, chairman, SEC.
“The SEC will hear from leading experts on credit rating agencies and the financial markets. Their insight will help the Commission as it continues its aggressive oversight of the industry, and considers whether to adopt the pending proposals.”
L.D.