The Securities and Exchange Commission ("SEC") has proposed new rules and amendments intended to increase transparency and improve the integrity of credit ratings. The proposed rules would implement certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 and enhance the SEC’s existing rules governing credit ratings and Nationally Recognised Statistical Rating Organisations (“NRSROs”). Under the SEC’s proposal, NRSROs would be required to: (i) report on internal controls; (ii) protect against conflicts of interest; (iii) establish professional standards for credit analysts; (iv) publicly provide, along with the publication of the credit rating, disclosure about the credit rating and the methodology used to determine it; and (v) enhance their public disclosures about the performance of their credit ratings.