Subscribe to the Finance Headline RSS feed | Subscribe to the Finance Headline feed via EmailBNA INSIGHTS: Dodd-Frank Wall Street Reform and Consumer Protection Act: An Examination of the Credit Rating Agency Provisions
August 23, 2010 in Securities Regulation & Law Report · Leave a Comment
On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”). The law covers a wide variety of topics in an effort to address the causes of the recent financial crisis. With respect to credit rating agencies, the Act provides for improved regulation by mandating increased accountability, stronger internal controls to avoid conflicts of interest and to better ensure the accuracy of ratings, elimination of reliance on ratings by federal agencies, and enhanced transparency to allow investors and other users to evaluate accuracy and to compare the performance of different agencies…
