Indulging in some end-of-the-year housecleaning, the Securities and Exchange Commission on Friday swept through its rules and forms to remove references to credit ratings by nationally recognized statistical rating organizations.
The Dodd-Frank Act required federal agencies to review any regulation that requires the use of an assessment of the creditworthiness of a security or money market instrument, remove that requirement, and substitute their own standard of creditworthiness. In response, the SEC removed credit rating references from the following:
