Washington, D.C., March 24, 2009 — The Securities and Exchange Commission today announced the expected panelists for its April 15 roundtable relating to its oversight of credit rating agencies.
The roundtable will be held at the SEC's Washington, D.C., headquarters and will begin at 10 a.m. ET with opening remarks from SEC Chairman Mary L. Schapiro.
"The roundtable will thoroughly review relevant aspects of regulating credit rating agencies," said Chairman Schapiro. "Insight from leading experts on credit rating agencies and the financial markets will assist the Commission as it continues to pursue aggressive oversight of the industry."
Discussion topics will include issues related to recent SEC rulemaking initiatives, such as conflicts of interest, competition, and transparency. The roundtable will consist of four panels.
Roundtable participants will include leaders from investor organizations, financial services associations, credit rating agencies, and academia.
The roundtable is expected to end at approximately 4:15 p.m. with concluding remarks by Erik R. Sirri, Director of the SEC's Division of Trading & Markets.
In the fall of 2006, Congress passed the Credit Rating Agency Reform Act, providing the SEC for the first time with authority to supervise credit rating agencies. Using this authority that became effective in June 2007, the Commission has adopted two major rulemakings, has conducted an extensive 10-month examination of three major credit rating agencies, and has several pending proposals to further the Act's purpose of promoting accountability, transparency, and competition in the rating industry.
The roundtable will be held in the auditorium at the SEC's headquarters at 100 F Street, NE, in Washington, D.C. The roundtable will be open to the public with seating on a first-come, first-served basis. The roundtable also will be webcast on the SEC Web site.
For additional information about the roundtable, contact Marlon Q. Paz in the SEC's Division of Trading and Markets at (202) 551-5756.