Ratings, regulation and risk



Michel Prada marked the end of his tenure as chairman of the Madrid-based International Organisation of Securities Commissions' (Iosco) technical committee by submitting reports from two task forces in May. One of these was an analysis on the effects of the subprime crisis, the culmination of an effort that began in November 2007. The report touches on issuer transparency and investor due diligence, risk management and prudential supervision, and valuation and accounting issues. Specifically,