SEC plans to tackle credit-rating proposals next month

11/20/2008 | Google

The Securities and Exchange Commission postponed a vote on a plan to implement new rules aimed at stemming conflicts of interest at Wall Street credit-rating companies. The SEC plans to take up the issue and other initiatives related to the credit-rating industry at its Dec. 3 meeting. SIFMA has opposed one of those initiatives, which would require ratings of complex securities, saying the proposal could hurt the capital-raising efforts for mortgages, student loans, auto loans and other debt, and lead to an abrupt sale of them "at fire-sale prices."

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