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Conference Committee Waters Down Ratings Agency Provision

Today, the conference committee merging the House and Senate versions of financial regulatory reform agreed to water down a provision randomizing the assignment

Jul 31, 2020
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Today, the conference committee merging the House and Senate versions of financial regulatory reform agreedto water down a provision randomizing the assignment of deals to credit ratings agencies — overhauling the business by stopping companies from shopping for favorable ratings. The reform, proposed by Sen. Al Franken (D-Minn.), had become the issue of greatest contention for the panel in negotiations this week.
Instead, the bill will authorize a two-year study of the ratings agencies. After that, the Securities and Exchange Commission needs to have created a new way to assign raters to securities, or to put in place Franken’s plan. It is one of more than 25 studies mandated in the bill.
Paolo Reyna

Paolo Reyna

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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies. Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most. In his free time, he loves to travel, watch films, read books, and socialize with friends.
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