As part of its broader examination of the impact of credit ratings agencies on the financial markets (see other recent news on which here), the Securities and Exchange Commission (SEC) has published a new request for comment on the feasibility of a system in which a public or private utility or a self-regulatory organisation would assign a nationally recognised statistical rating organisation (NRSRO) to determine credit ratings for structured finance products. The regulator is seeking to determine whether such a utility approach (a popular theme throughout Dodd Frank – see the Office of Financial Research for another example) would eliminate conflicts of interest in the ratings assignment process.

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