The Securities and Exchange Commission is considering rules that would curb issuers from shopping around for the best ratings for their securities, but it's not clear if the provisions would apply across all types of asset classes, including municipal securities.

In testimony before the House Financial Services Committee's capital markets panel yesterday on the current state and agenda of the SEC, Schapiro suggested that rating-shopping restrictions might apply only to structured finance products.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.