S. 3850 · 109th Congress · enacted
Credit Rating Agency Reform Act of 2006
Became Public Law No: 109-291.
Latest official action 2006-09-29 · Enacted
The bill, briefly
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Credit Rating Agency Reform Act of 2006 - (Sec. 4) Amends the Securities Exchange Act of 1934 to require nationally recognized statistical rating organizations (NRSROs) to register with the Securities and Exchange Commission (SEC). Requires registration applications, among other items, to include on a confidential basis: (1) a list of the 20 largest securities issuers and subscribers that use the applicant's rating services; and (2) certifications from at least 10 qualified institutional buyers (QIBs) that they have used the ratings for at least the three most recent years, including two certifications for each type of rating the applicant will issue. Requires the SEC within 90 days of receiving an application to grant registration or institute proceedings to determine whether not to. Requires the SEC to grant registration unless the applicant does not have adequate financial and managerial resources to consistently produce credit ratings with integrity and to comply materially with the procedures and methodologies disclosed in its application. Requires each NRSRO to certify annually that the application documents (other than the QIB certifications) remain accurate, and list any material changes that occurred. Requires SEC rules to be narrowly tailo…
Congressional Research Service · 2006-09-06
Who reported lobbying on this bill?
Amount spent specifically on this bill: not disclosed
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No matching lobbying report is imported yet. This is not evidence that no lobbying occurred.
2,409 latest lobbying reports imported. Some source imports are still in progress.
Politicians behind the bill
Sponsors and cosponsors from the official source, limited to members currently in office. Campaign amounts are cycle-wide and are not payments for this bill.
No current-officeholder sponsorship match is available. Historical sponsors may have left office.
0 of 0 source cosponsor records retrieved; only current officials and unwithdrawn sponsorships appear.
PAC donors to the listed sponsors
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The largest 40 donor totals appear here. Open each politician for their complete, paginated PAC donor list.
What happened after enactment?
Dated agency-reported implementation and uptake measures are shown with their scope. They do not by themselves establish causal success. If no evidence is listed, the outcome is not established.
Measured outcome: not established
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