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Paul Atkins (L), Commissioner, Securities & Exchanges Commission, United States of America, and Charlie McCreevy (R), Commissioner for the Internal Market, European Union, speaking at the inaugural FCI conference in June 2008. It was here that McCreevy announced the EU 's intention to regulate credit rating agencies for the first time, and Atkins responded with the (less intrusive) American approach that has been ultimately incorporated in the financial services reform legislation passed by the US Senate on May 20th 2010.