“The Commission will consider whether to adopt final rule amendments and whether to propose new rule amendments that will impose additional requirements on nationally recognized statistical rating organizations in order to address concerns raised about the policies and procedures for, transparency of, and potential conflicts of interest relating to ratings of residential mortgage-backed securities backed by subprime mortgage loans and collateralized debt obligations linked to subprime loans.”

The regulatory program established by the Credit Rating Agency Reform Act allows the Commission to promulgate rules regarding public disclosure; recordkeeping and financial reporting; and substantive requirements designed to ensure that NRSROs conduct their activities with integrity and impartiality. The rules being considered today are meant to supplement previous rules implemented by the Commission under the Credit Rating Agency Reform Act in June 2007.