Two SEC staff reports highlight the important work of the Office of Credit Ratings in examining and monitoring nationally recognized statistical rating organizations (NRSROs).
The reports indicate that the NRSROs made certain improvements in response to the staff's examinations and that both the range of NRSROs issuing commentaries as well as the topics covered by those commentaries has expanded.
"We continue to regularly examine and engage with each NRSRO to promote regulatory compliance and effective oversight for the protection of investors," said Jessica S. Kane, Director of the SEC's Office of Credit Ratings. “Staff engages in a careful risk assessment process to focus on the statutory review areas, while also identifying additional risk-based areas for review."
The report on NRSRO examinations summarizes the staff's essential findings and recommendations in each of the eight review areas required by statute. The report on NRSROs discusses the state of competition, transparency, and conflicts of interest among the firms and also identifies any applicants for NRSRO registration.
Report on Findings of Examinations of NRSROs
Report to Congress on NRSROs
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