SEC Drops Plan to Require Special Designations On Ratings of Structured Finance Transactions
December 5, 2008
The Securities and Exchange Commission this week approved a final rule on the credit rating business that includes major provisions from a proposal the agency aired in June, but officials opted not to move forward with a controversial plan requiring special rating symbols for MBS and ABS. The mortgage- and asset-securitization industries widely opposed the SEC’s original plan that...