SEC slates rating agency practices
The US Securities and Exchange Commission (SEC) published a report in July detailing the results of its investigation into the three main credit rating agencies' practices in rating products that reference residential mortgage-backed securities (RMBSs).
The investigation of Moody's Investors Service, Fitch Ratings and Standard & Poor's started in August 2007, as the crisis in subprime residential mortgages in the US became a widespread concern in the markets.
The report identifies significant
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