SEC Proposes Tougher Rules for Credit-Raters

The Securities and Exchange Commission voted unanimously to issue draft proposals to toughen regulations for credit raters, a step toward reining in an industry widely blamed for helping fuel the financial crisis. Wednesday’s package of draft recommendations, which run more than 500 pages, are targeted at making it simpler for investors to compare raters’ performance and preventing ratings from being tainted by credit analysts seeking employment at the issuers they are rating. – WSJ

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