SEC Seeks Comments on Collection of Annual Financial Reports from Credit Rating Agencies

SEC Seeks Comments on Collection of Annual Financial Reports from Credit Rating Agencies

By Prathamesh 2 May, 2024
news

The Securities and Exchange Commission (SEC) has opened a window for public comment on the collection of annual financial reports from Nationally Recognized Statistical Rating Organizations (NRSROs), commonly known as credit rating agencies. As part of this process, NRSROs are also mandated to provide a report detailing the number of credit rating actions undertaken during the most recently completed fiscal year.

Under the Financial Data Transparency Act (FDTA), certain agencies within the Financial Stability Oversight Council (FSOC), including the SEC, are obliged to gather information in structured, machine-readable formats. This move aims to enhance transparency and accessibility in financial reporting.

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