3235-AL54 201410 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 3235 Securities and Exchange Commission SEC Credit Rating Agencies--Conflicts of Interest

The Office of Credit Ratings is considering recommending that the Commission propose rules and amendments designed to address the conflicts of interest associated with the issuer-pay business model (i.e., the NRSRO receives compensation from issuers and obligors for rating the securities of the issuer or the obligor) and increase transparency and promote competition for the ratings of securities and money markets instruments issued by an asset pool or as part of any asset-backed or mortgage-backed securities transaction.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Proposed Rule Stage Undetermined No 17 CFR 240.17g-5 15 USC 78o-7 15 USC 78q 15 USC 78mm No NPRM 10/00/2015 Undetermined None No No No Harriet Orol Office of Credit Ratings 3235 Securities and Exchange Commission SEC 212 336-0554 orolh@sec.gov Brookfield Place, 200 Vesey Street, Suite 400, New York NY 10281-1022