(Bloomberg) -- The U.S. Securities and Exchange
Commission approved rules to allow additional credit-rating
companies to gain federal recognition, a move that may create
competition for Standard & Poor's and Moody's Investors Service.
The changes, adopted today on a 5-0 vote, were prompted by
legislation passed by Congress in September. They would allow
credit-rating firms to register for federal designation after
providing the SEC with audited financial statements, details on
their performance and certifications from institutional clients.
Read more at Bloomberg Bonds News
Commission approved rules to allow additional credit-rating
companies to gain federal recognition, a move that may create
competition for Standard & Poor's and Moody's Investors Service.
The changes, adopted today on a 5-0 vote, were prompted by
legislation passed by Congress in September. They would allow
credit-rating firms to register for federal designation after
providing the SEC with audited financial statements, details on
their performance and certifications from institutional clients.
Read more at Bloomberg Bonds News
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