SEC Proposes Rules to Remove References to Credit Ratings

The SEC today voted unanimously to propose amendments that would remove references to credit ratings in several rules under the Exchange Act.  These proposals represent the next step in a series of actions taken under the Dodd-Frank Act to remove references to credit ratings within agency rules and, where appropriate, replace them with alternative criteria.

Public comments on the rule amendments should be received within 60 days after they are published in the Federal Register.