WASHINGTON (CN) - The Securities Exchange Commission has announced new requirements for nationally recognized statistical rating organizations (NRSROs), the firms that determine credit ratings for businesses and structured stock offerings.
Under the new rules, which seek to bring integrity back to the ratings after financial firms with good ratings collapsed, NRSROs would be required to post on the Internet a random sample of 10% of the ratings histories of credit ratings paid for by the firm issuing the security.
The rules also require more disclosure of performance measurement statistics and more transparency to the methods used to determine credit ratings for structured finance products and other debt securities. They also require additional record-keeping, and an additional annual report.
Click the document icon on the front page for details and links to the regulations. The document icon under the "Fish, Finances, Mail & More" heading leads to other new regulations.
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