Securities and Exchange Commission: Amendments to Rules for Nationally Recognized Statistical Rating Organizations
GAO-10-319R: Dec 18, 2009
- Full Report:
GAO reviewed the Securities and Exchange Commission's (SEC) new rule on amendments to rules for nationally recognized statistical rating organizations. GAO found that (1) the final rule imposes additional disclosure and conflict of interest requirements on nationally recognized statistical rating organizations (NRSROs) in order to address concerns about the integrity of the credit rating procedures and methodologies at NRSROs; and (2) the SEC complied with applicable requirements in promulgating the rule.