Comment Deadline Set for SEC Proposal Eliminating Credit Rating References from Rules on Market Manipulation

The SEC published in the Federal Register proposed rules on eliminating credit rating references from rules on market manipulation. Comments on the proposal are due by May 23, 2022.

As previously covered, the SEC proposed amendments to the rules on securities market manipulation ("Regulation M") that would remove references to reliance on credit rating agencies, in accordance with Section 939A of the Dodd-Frank Act ("Review of Reliance on Ratings").

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