SEC Publishes Annual Staff Report on Nationally Recognized Statistical Rating Organizations

The Securities and Exchange Commission’s Office of Credit Ratings (OCR) today published its annual Staff Report on Nationally Recognized Statistical Rating Organizations (NRSROs) summarizing the findings of the NRSRO examinations and discussing the state of competition, transparency, and conflicts of interest among NRSROs. “Providing effective oversight of credit ratings used by market participants is a critical component of the SEC’s mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation,” said SEC Acting Chairman Mark Uyeda. “The report, which is mandated by statute, reflects the observations, analysis, and expertise of SEC staff in overseeing credit rating agencies.” “Our examinations cover the eight statutory review areas while focusing on risks unique to the industry and each firm,” said Lori Price, Director of the SEC's Office of Credit Ratings.