The major credit rating agencies have been widely criticized for their role in the international bust and liquidity panic in the markets for structured mortgages and other complex securities. Critics continue to question the effectiveness of rating agency performance, incentives, and oversight. Currently, numerous regulations mandate that investors use credit ratings from an agency that is designated as a “Nationally Recognized Statistical Rating Organization” (NRSRO). In turn, these NRSROs are required to be registered with the Securities and Exchange Commission (SEC). There are many proposals for reform, ranging from much greater government regulation of rating agencies to ending government sponsorship of credit ratings altogether. The New York state attorney general recently announced an agreement with the agencies, and the SEC intends to soon publish a proposed rule with its approach to future rating agency regulation. This conference will feature industry experts with a variety of perspectives on how the rating agency sector could be improved.