DBRS Comments on the SEC Concept Release on Possible Rescission of Rule 436(g)
DBRS has commented on The U.S. Securities and Exchange Commission (SEC) concept release on the possible rescission of the exemption of a nationally recognized statistical rating organization (NRSRO) from expert liability with regards to ratings that appear in registration statements as per Rule 436(g) under the Securities Act of 1933 (Rule 436(g)).
As an NRSRO, DBRS believes that rescinding Rule 436(g) would reduce the availability of credit ratings in connection with public offerings; would alter the character and diminish the quality of credit ratings; and would impose a disproportionate burden on smaller NRSROs.
DBRS’s comment letter to the SEC is available on www.dbrs.com under Regulatory Affairs.
DBRS has its headquarters in Toronto, with offices in New York and Chicago, and covers entities worldwide.