Industry groups speak out on SEC rating agency rules
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Financial industry bodies broadly greeted the Securities and Exchange Commission's proposed rules on approving nationally recognised statistical rating organisations (NRSROs), but voiced concern that the final rules could be too lax.The SEC published the proposed rules in March, aimed at codifying the criteria for a ratings agency to be given NRSRO status for regulatory purposes. NRSRO ratings are treated as the benchmark by a number of US and foreign regulations, such as net capital rules,
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