SEC Adopts New Short Form Criteria to Replace Credit Ratings

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SEC Adopts New Short Form Criteria to Replace Credit Ratings
The Securities and Exchange Commission today voted unanimously to adopt new rules in light of the Dodd-Frank Wall Street Reform and Consumer Protection Act to remove credit ratings as eligibility criteria for companies seeking to use “short form” registration when registering securities for public sale.
http://www.sec.gov/news/press/2011/2011-155.htm