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September 28, 2007
SEC Continues Probe into Rating Agencies' Subprime Practices
The chairman of the SEC confirmed in front of the U.S. Senate Banking, Housing, and Urban Affairs Committee that his regulatory agency continues its probe into the practices of major credit rating agencies and their impact on the subprime mortgage market.
SEC Chairman Christopher Cox said, while his agency has yet to make a conclusive decision about the practices of credit rating agencies, the SEC’s investigation continues with an emphasis on how different ratings companies evaluated subprime residential mortgage backed securities.
Posted by S. Germain at September 28, 2007 08:22 AM