3235-AL14 202110 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 3235 Securities and Exchange Commission SEC Removal of References to Credit Ratings from Regulation M

Section 939A of the Dodd Frank Act requires the Commission to remove certain references to credit ratings from its regulations and to substitute such standards of creditworthiness as the Commission determines to be appropriate. The Division is considering recommending that the Commission propose to eliminate the exceptions for investment grade non-convertible debt, non-convertible preferred, and asset-backed securities (as rated by at least one Nationally Recognized Statistical Rating Organization) from Rules 101 and 102 of Regulation M.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Proposed Rule Stage Undetermined No Not Yet Determined Pub. L. 111-203, sec. 939A No NPRM 05/06/2011 76 FR 26550 NPRM Comment Period End 07/05/2011 Final Action 01/08/2014 79 FR 1522 Final Action Effective 07/07/2014 NPRM 12/00/2021 Yes Businesses None No www.sec.gov/rules/final/2013/34-71194.pdf Yes No 3235-AK17 Related to 3235-AL08 Previously reported as Laura Weber Division of Trading and Markets 3235 Securities and Exchange Commission SEC 202 551-6508 weberl@sec.gov 100 F Street NE, Washington DC 20549