On November 23, the SEC adopted rule amendments, effective February 2, 2010, imposing additional disclosure and conflict of interest requirements on NRSROs. Final Rule.

Also on November 23, the SEC proposed rule amendments and a new rule that would require NRSROs to furnish new annual reports describing certain compliance measures and provide additional revenue information. The SEC also announced that it is deferring consideration of action with respect to a rule that would have required NRSROs to either: (a) provide a report describing how procedures and methodologies for rating structured finance products differ from those of other rated products when issuing a structured finance credit rating or (b) use different rating symbols for structured finance products. The SEC is also soliciting comments on: (i) alternative ways to differentiate structured finance credit ratings and (ii) whether the rule amendment, which was adopted to make it easier to determine and monitor non-issuer-paid credit ratings for structured finance products, should be applied before the rule became effective. Comments are requested to be received on or before February 2, 2010. Proposed Rules.