“These reports demonstrate the SEC’s vigilant oversight of the credit rating industry,” said Chair Mary Jo White. “The staff’s continued efforts are yielding valuable results as we are seeing improvements in the overall compliance cultures at many of the credit rating agencies."
The annual examination report summarizes the staff’s findings from the examinations of each NRSRO as required by the 2010 Dodd-Frank Act. SEC examiners performed risk assessments on specific areas in addition to examining the eight required review areas. The report shows that all of the NRSROs have enhanced their understanding of their obligations as regulated entities and that at many of the firms, operational improvements made in prior years are being further integrated and enhanced.
SEC Press Release