The Securitization Act of 2004

Section 43

No ABS shall be issued unless such ABS has been rated by a duly accredited credit rating agency.

Section 44

Every credit rating agency which now exists or which may hereafter be formed shall be subject to the provisions of this Act.

Section 45

No credit rating agency shall commence rate-making operations pursuant to this Act until it shall have obtained an accreditation from the Commission under such rules and regulations as the Commission may deem appropriate.

Section 46

Credit rating agencies shall be subject to examination by the Commission as the latter may deem warranted: Provided, That the Commission shall conduct an examination of the credit rating agencies at least once every three (3) years.

Section 47

The Commission may suspend or revoke the accreditation given to any credit rating agency which fails to comply with the Commission's lawful order within the time limited by such order, or any extension thereof which the Commission may grant.