Another Do-Over For Rating Agencies

On the 2nd, the SEC published the newest round of credit rating agency rules (release no 34-59342). They look approximately like the proposed rules, but as is typical with rulemaking involving our friends the NRSROs, a large chunk of the proposal has been taken out and re-proposed (release no 34-59343).

For a summary from an extremely authoritative source (Annette Nazareth - she wrote the old rules) see this memo on the Harvard Corporate Governance blog.