In response to the European Commission's proposal for regulating credit-rating agencies, SIFMA said it supported the EC's commitment and recommended a less prescriptive approach. "We believe that imposing a prescriptive regime of the kind proposed will not achieve the EC's (Commission's) objectives, and we encourage a less cumbersome approach that would allow the CRAs to operate their businesses independently, while still creating more transparency in ratings," said Deborah Cunningham, co-chairwoman of a task force on credit-rating agencies at SIFMA. Read the full SIFMA press release. Read SIFMA's comments to the SEC.
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