The American Securitization Forum and the newly formed Structured Finance Industry Group will both speak against the so-called Franken Amendment, or section 939F of the Dodd-Frank Act, at the U.S. Securities and Exchange Commission ratings agency roundtable event in Washington D.C. on Tuesday.

The amendment to the Dodd-Frank Act, sponsored by Senator Al Franken (D-MN), requires the SEC to consider creating a ratings board to assign credit rating agencies to specific structured finance issuances. The board - compromising primarily by investor members, one issuer member, one rating agency representative and one independent member - would randomly assign rating agencies to individual transactions.

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