SEC Issues Final Rule to Remove Credit-Rating References From Regulation M

The SEC has issued a final rule, Removal of References to Credit Ratings From Regulation M. The final rule “remove[s] and replace[s] references to credit ratings from existing exceptions provided in Rule 101 and Rule 102 of Regulation M, a set of rules that prohibits activities that could artificially influence the market for an offered security.”

For more information, see the press release and fact sheet — as well as statements by SEC Chair Gary Gensler and Commissioners Caroline Crenshaw, Jaime Lizárraga, and Mark Uyeda — on the SEC’s Web site.