Regulatory shake-up for rating agencies
Credit rating agencies are in the spotlight after US lawmakers began drawing up new legislation to promote competition in the industry prompted by concerns over the high-profile corporate scandals of Enron and WorldCom.
The enactment by the House of Representatives of the Credit Rating Agency Duopoly Relief Act on July 12 is seen as the first step in strengthening the designation process and oversight of the rating agencies.
The bill would require a rating agency to register with the Securities &
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