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

The letter was written by Richard Baker, chairman of the subcommittee on capital markets, insurance, and government-sponsored enterprises, to William Donaldson, chairman of the SEC. The letter said, "I am deeply troubled by the process by which the NRSRO (nationally recognised statistical rating organisation) designation is granted and by the potential conflicts of interest that exist under the current structure. Moreover, I question whether the current structure serves the interests of inve

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