The Securities and Exchange Commission (SEC) has charged credit rating agency Egan-Jones Ratings Co. (EJR) and its owner and president Sean Egan for material misrepresentations and omissions in their July 2008 application to register as a Nationally Recognized Statistical Rating Organization (NRSRO) for ABS and government securities issuers.

April 24
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  • Fitch Ratings said today that a substantial rise in defaults would lead to incremental losses in privately funded student loan ABS pools.

    June 8
  • The Federal Reserve Board on Thursday unanimously approved the release of a set of proposals that would raise banks' minimum capital requirement to 7%.

    June 8
  • Mortgage investors, who have been complaining for months about the costs they will bear under the national servicing settlement, presented a list of proposed remedies at a congressional hearing Thursday.

    June 8
  • Europe

    The International Organization of Securities Commissions (IOSCO) today published a consultation report on global developments in securitization regulation.

    June 7
  • Garett Stoffels joined BGC Partners' real estate capital markets group as senior managing director and head of equity capital markets, the company said in press release today.

    June 7
  • If enacted by U.S. regulators as currently drafted, the Simple Supervisory Formula Approach (SSFA) would require banks to give capital risk weightings to securitizations that are sharply higher than those assessed under the longstanding ratings-based approach, according to a presentation by Brian P. Lancaster, co-head of structured transactions at RBS, and John Jordan, from the bank’s financial institutions division.

    June 7
  • ABS

    As the possibility of Greece’s exit from the Eurozone heightens, Moody’s Investors Service today announced that it downgraded the ratings of four Greek covered bond programs. The main catalyst for these downgrades was Moody’s lowering of its Greek country ceiling to ‘Caa2.’

    June 7