Shaw Capital Working Management News Worldwide: S&P balks at SEC proposal to reveal
rating errors
http://www.
reuters.
com/article/2011/08/10/us-financial-regulation-sandpidUSTRE77901S20110810
Standard & Poor s, whose unprecedented downgrade of U.
S.
debt...
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Shaw Capital Working Management News Worldwide: S&P balks at SEC proposal to reveal
rating errors
http://www.
reuters.
com/article/2011/08/10/us-financial-regulation-sandpidUSTRE77901S20110810
Standard & Poor s, whose unprecedented downgrade of U.
S.
debt triggered a worldwide stocks
sell-off,is pushing back against a U.
S.
government proposal that would require creditraters to
disclose "significant errors" in how they calculate their ratings.
S&P, which was accused by the Obama administration of making an error in its calculations
leading to Friday s downgrade, raised concern about the proposed new corrections policy and
other issues in an 84-page letterto the Securities and Exchange Commission, dated August 8.
The SEC is weighing sweeping new rules designed to improve the quality of ratings after their
poor performance in the financial crisis.
The 517-page proposal includes a requirement that ratings agencies post on their websites
when a "significant error" is identified in the
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