On December 18, 2012, the SEC released a Report to Congress on Assigned Credit Ratings, as required by Section 939F of the Dodd-Frank Act, to analyze the feasibility of establishing an assignment system for NRSROs to rate structured finance products, as proposed in the so-called “Franken Amendment.” The report describes the costs, benefits, and considerations of three courses of action: (i) establishing an assignment system; (ii) modifying the program established under Rule 17g-5 under the Exchange Act; and (iii) employing alternative compensation methods to incentivize accurate credit ratings. The report recommends that as a next step, the SEC convene a roundtable at which proponents and critics of the three courses of action can discuss the study and its findings. Report.