Regulatory Alerts2018-10-05 | 2018-21295Added · Updated
Amendments to Rules for Nationally Recognized Statistical Rating Organizations
The Securities and Exchange Commission proposes amendments to exempt Nationally Recognized Statistical Rating Organizations from specific disclosure and information-sharing rules for credit ratings of securities issued by non-U.S. persons and sold exclusively outside the United States. These changes would codify an existing temporary exemption under Rule 17g-5(a)(3) and make conforming adjustments to similar exemptions in Rules 17g-7(a) and 15Ga-2 to align with offshore transaction practices. The Commission is soliciting public comments on the proposed rule amendments to address concerns regarding regulatory overlap and conflicts with foreign laws.
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