The American Securitization Forum (ASF) is opposing the creation of a board by the Securities and Exchange Commission (SEC) that would choose which rating agency is allowed to new-issue securitizations.

The idea to establish a board was initially introduced by Senator Al Franken as part of the Dodd-Frank legislation but was not ‘mandated’ in the final bill. Under the Act, however, the SEC is required to consider the idea and report back to Congress by July 2012.

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