Cesr, Iosco speak out on CRAs

REGULATORY UPDATE

PARIS/MADRID - The Committee of European Securities Regulators (Cesr) has been scathing in its response to the proposed EU regulation on credit rating agencies (CRAs), and has identified several provisions it believes need "significant revision". It has reservations about the scope of the regulation, as well as issues pertaining to supervision and proportionality. However, its biggest concern is the need to ensure an internationally harmonised set of requirements. "As appears from a first ana