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Investor's Business Daily

| November 05, 2002 | COPYRIGHT 2002 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

REGULATION

SEC to hold credit rater hearings

It expects top officials from major credit-rating agencies, as well as Ford and GM, to take part in public hearings Nov. 15 and Nov. 21 about the agencies' role in financial markets. Credit raters have been sharply criticized for not giving sufficient warning on firms like Enron.

Webster may quit accounting job

William Webster told the Financial Times he'll leave his new post heading the accounting oversight board if controversy about his selection hinders the job. SEC Chairman Harvey Pitt failed to disclose the ex-FBI chief's role at a firm with accounting issues. Many expect the White House to oust Pitt after the election.

MARKETS

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