S.Amdt. 3867

SA 3867. Mr. ENSIGN submitted an amendment intended to be proposed to
amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself and
Mrs. Lincoln)) to the bill S. 3217, to promote the financial stability
of the United States by improving accountability and transparency in
the financial system, to end ``too big to fail'', to protect the
American taxpayer by ending bailouts, to protect consumers from abusive
financial services practices, and for other purposes; which was ordered
to lie on the table; as follows:

On page 1034, strike line 8 and all that follows through
line 21, and insert the following:

SEC. 935. CONSIDERATION OF INFORMATION FROM SOURCES OTHER
THAN THE ISSUER IN RATING DECISIONS.

Section 15E of the Securities Exchange Act of 1934 (15
U.S.C. 78o-7), as amended by this subtitle, is amended by
adding at the end the following:
``(v) Information From Sources Other Than the Issuer.--In
producing a credit rating, a nationally recognized
statistical rating organization shall consider information
about an issuer that the nationally recognized statistical
rating organization has, or receives from a source other than
the issuer or the underwriter, that the nationally recognized
statistical rating organization finds credible and
potentially significant to a rating decision.''.
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