SEC urged to increase oversight

REGULATORY UPDATE

At a November hearing on the Credit Rating Agency Duopoly Relief Act of 2005 in the Financial Services Committee in US Congress, several witnesses criticised the SEC's current regulation of rating agencies in which the SEC regulates only those rating agencies that the Commission designates as Nationally Recognised Statistical Rating Organisations (NRSROs).

The Credit Rating Agency Duopoly Relief Act of 2005 would require all providers of publicly available ratings to register with the SEC, an

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