The Securities and Exchange Commission this week unanimously approved a proposed rule intended to strengthen and improve the transparency of credit ratings via new requirements for the rating agencies themselves, as well as third-party due diligence providers, underwriters and issuers. The new proposed rule would implement provisions in the Dodd-Frank Act, in which Congress noted the importance of credit ratings, said SEC Chairman Mary Schapiro. "It also noted that ratings that were applied to structured financial products proved inaccurate – and contributed significantly to the mismanagement of risks by...