AFP urges SEC to review regulation on rating agencies

The Association for Financial Professionals (AFP) has sent a letter to the US Securities and Exchange Commission (SEC) chairman Christopher Cox, urging him to exercise his oversight authority over the credit rating agencies. The letter says that the time has passed for the credit rating agencies to adopt new policies or procedures voluntarily.

“It’s time for the SEC to act. The rating agencies do not provide accurate, credible or reliable ratings and the agencies are rife with conflicts of

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