Credit rating agencies disregard 17g-5

Author: | Published: 8 Nov 2010

US rating agencies aren’t using the Securities and Exchange Commission’s (SEC) mandated information-sharing websites due to the lack of cost benefit and concerns about liability.

“I’ve heard from market sources that basically none of the non-hired NRSROs have been checking the sites,” said one lawyer.

Before Dodd-Frank the US regulator introduced the Credit Rating Agency Reform Act...