Update on regulatory issues and the rating agencies
We have consistently supported demands for greater transparency and more competition
- Transparency critical for operation of sound and efficient capital markets
Investors seek S&P opinions because of its credibility
Any change to system should be carefully evaluated
- Hope Congress allows SEC to complete its work for making process transparent for Nationally Recognized Statistical Rating Organizations (NRSROs)
We hope SEC will soon finish discussions to implement Voluntary Oversight Framework similar to system adoption by European Commission and IOSCO