SEC report reveals failings at top three rating agencies

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The US Securities and Exchange Commission (SEC) has identified "apparent failures" harking back to the peak of the financial crisis at all three of the largest US credit rating agencies (CRAs), according to a report released on September 30.

The SEC examined the three main credit rating agencies – Standard & Poor's (S&P), Moody's and Fitch Ratings – as part of an annual investigation required by the Dodd-Frank Act to improve the regulation of Nationally Recognised Statistical Rating Organisation

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