Sec. 854. Look-back review by NRSRO

176 words·~1 min read·/bill/115/hr/10/ih/section-854

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Section 15E(h)(4)(A) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o–7(h)(4)(A) ) is amended— by striking Each nationally and inserting the following: Each nationally ; by striking underwriter and inserting lead underwriter ; by striking in any capacity ; by striking during the 1-year period preceding the date an action was taken with respect to the credit rating ; by redesignating clauses

(i)and

(ii)as subclauses

(I)and (II), respectively, and adjusting the margin of such subclauses accordingly; in subclause (I), as so redesignated, by inserting before the semicolon the following: during the 1-year period preceding the departure of the employee from the nationally recognized statistical rating organization ; and by adding at the end the following: In the case of maintenance of ratings actions, the requirement under clause

(i)shall only apply to employees of a person subject to a credit rating of the nationally recognized statistical rating organization or an issuer of a security or money market instrument subject to a credit rating of the nationally recognized statistical rating organization. .

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15 USC 78o–7(h)(4)(A)

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Sec. 854

Look-back review by NRSRO

Cite15 USC 78o–7(h)(4)(A)

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