Credit Rating Agency Duopoly Relief Act of 2006
Sponsor: Michael Fitzpatrick (R-PA)
Credit Rating Agency Duopoly Relief Act of 2006 - (Sec. 4) Amends the Securities Exchange Act of 1934 (Act) to define a credit rating agency as any person: (1) engaged in the business of issuing credit ratings on the Internet or through another readily accessible means, for free or for a reasonable fee, but excluding a commercial credit reporting company; (2) employing either a quantitative or qualitative model, or both, to determine credit ratings; and (3) receiving fees from either issuers, investors, or other market participants, or a combination of them. Defines a nationally recognized statistical rating organization (NRSRO) as a credit rating agency that has been in business as a credit rating agency for at least the past three consecutive years and is registered under the Act. Prescribes procedural requirements for mandatory NRSRO registration and certification.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 3.5% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Nay | Won | 222 | 52.5% |
| Yea | Lost | 198 | 44.0% |
| Not represented on this question | No position taken | 0 | 3.5% |