Congress demands ratings report from SEC after no-show at hearings

REGULATORY UPDATE

WASHINGTON, DC -- The chairman of a House of Representatives subcommittee that held early April hearings titled "Rating the rating agencies: the state of transparency and competition," sent a strongly-worded letter to the chairman of the Securities and Exchange Commission (SEC) in mid-April demanding a long-awaited concept paper on the rating agencies by June 4.

The letter was written by Richard Baker, chairman of the subcommittee on capital markets, insurance, and government-sponsored enter

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