1.4.20
Recently, Jay Clayton, the current chairman of the Securities and Exchange Commission (SEC), discussed the possibility of using alternative payment models to quell concerns that “ratings shopping” by issuers has led to higher credit ratings than deserved. In response, ex-SEC Commissioner Roel Campos wrote an op-ed in Fox Business, arguing that this is not the time for such untested experiments. “If the SEC is concerned about the ratings process, it would be proper for the agency to prioritize a review of the effectiveness of its current oversight and to assure that sufficient resources are made available to the OCR and its examination system,” wrote Campos, “It is not the time, however, for an untested government-engineered credit ratings market.”
Read more vis Fox Business.