The Securities and Exchange Commission(SEC) has appointed Thomas Butler as director of the agency's new office of credit ratings, which was created by the Dodd-Frank Act.

Butler will be responsible for overseeing the nine registered Nationally Recognized Statistical Rating Organizations (NRSROs). He will oversee a staff of roughly 25 lawyers, accountants,and examiners responsible for examining and monitoring the NRSROs. Butler begins work on June 18.

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