A.M. Best comments on changes related to enactment of the Dodd-Frank Act
“The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law on Wednesday. Included among this legislation’s far-reaching financial market reforms are provisions aimed at enhancing regulation and transparency for credit rating agencies. A.M. Best Co. believes that many of the provisions directed toward credit rating agency reform will benefit the capital markets as a whole. However, the new law presents a host of new requirements and legal uncertainties that credit ratings agencies such as A.M. Best must now address.