04/19/2021
https://www.congress.gov...
"Thank you very much, Mr. Chairman."
"I think it is important, because we specifically point out that their ratings would not be considered a forward-looking statement for purposes of Section 21(e) of the Securities Act."
"From these hearings, it is clear that problems at credit rating agencies contributed to the significant financial sector instability our country has been experiencing."
"So it would be very clear that this regulator would be the primary regulator of all these functions, even if they feel under the range of CFTC or SEC."