Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, May 14, 2010

Senate Votes to Create a Credit-Rating Board to Deal with Conflicts

Yesterday the Senate, by a 64-35 vote, included a provision in the financial reform package to deal with the conflicts of interest of credit rating agencies.  It would create a credit-rating board, under SEC oversight, to act as a middleman between issuers of structured bonds and rating agencies.  The board would select which rating agency would provide the initial rating.  NYTimes, Senate Amends Financial Overhaul Bill; WSJ, Rating Agencies Face Curbs.

http://lawprofessors.typepad.com/securities/2010/05/senate-votes-to-create-a-creditrating-board-to-deal-with-conflicts.html

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