WASHINGTON - Standard & Poor's issued a white paper yesterday that embraced increased global oversight of rating agencies, including rules that require "robust" disclosure of rating criteria and methodologies and that address potential conflicts of interest in the ratings process.

The nine-page paper comes as policymakers and financial regulators are considering additional oversight of rating agencies, on the heels of widespread criticism that they provided unduly high ratings to structured mortgage products that fueled the financial crisis. The subject of improved ratings is expected to be a focus at the G-20 Summit in London next month.

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