SEC proposes amendments to remove references to credit ratings in rules

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The Securities and Exchange Commission (SEC) on Wednesday voted unanimously to propose amendments that would remove references to credit ratings.

The proposals represent the next step in a series of actions taken under the Dodd-Frank Act to remove references to credit ratings within agency rules and, where appropriate, replace them with alternative criteria.

The proposals remove references to credit ratings in the SEC's net capital rule for broker-dealers; in the definition of 'major market fore

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