The U.S. Securities and Exchange Commission says it will be trying to make the credit rating process easier to understand and monitor.
The SEC will be proposing 3 batches of regulations in an effort to increase the transparency of the rating process, officials say.
Two batches of regulations came out Wednesday, and the third will appear June 25.
Congress gave the SEC new authority to regulate rating agencies in 2007.
One provision in the proposed regulations released Wednesday is a rule that would prohibit a credit rating agency from rating a structured product unless the agency had information about the underlying assets.
Rating agencies also would have to make all of their ratings and subsequent rating actions publicly available and publish 1-year, 3-year and 10-year performance statistics.