Credit Rating Agency Reform Could See Vote Soon; How Versions are Merged Will be Key
September 22, 2006
Congress might spend some of its precious time before its session ends addressing credit rating agency certification and competition, according to securities industry analysts. The House approved its rating agency legislation, H.R. 2990, in July, but that version did not sit well with several of the rating services or the American Securitization Forum. Earlier this month, Sen. Richard Shelby, R-AL, introduced a similar bill, S. 3850, which was quickly placed on the Senate’s legislative calendar...