Jim Kaitz, president of the Association for Financial Professionals (AFP), has called on the US Congress ?to hold the SEC accountable by demanding immediate action on the issues,? including questions about the credibility and reliability of credit ratings and conflicts of interest and abusive practices in the rating process. Kaitz testified before the Senate Committee on Banking, Housing and Urban Affairs.
Kaitz pointed out that the credit rating agencies and investor confidence in the ratings they issue are vital to the operation of global capital markets.
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