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Sep 09, 2014

SEC Adopts Credit Rating Agency Reform Rules

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On August 27, 2014, the SEC adopted new rules for credit rating agencies implementing 14 rulemaking requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”). The new rules are designed to enhance governance, protect against conflicts of interest and increase transparency. The new rules apply to credit rating agencies registered with the SEC as “nationally recognized statistical rating organizations,” or NRSROs. Certain of the new rules applicable to NRSROs will take effect 60 days after publication in the Federal Register, while certain others will take effect nine months after publication in the Federal Register, the latter of which are delayed to provide time for NRSROs, issuers, underwriters and other affected parties to prepare for the changes resulting from the new requirements.

View full memo, SEC Adopts Credit Rating Agency Reform Rules

Authors and Contributors

Lisa Jacobs

Partner

Capital Markets

+1 212 848 7678

+1 212 848 7678

New York

Stuart K. Fleischmann

Partner

Capital Markets

+1 212 848 7527

+1 212 848 7527

New York