CESR releases credit agencies regulation concepts
BRUSSELS -- The Committee of European Securities Regulators (CESR) published a consultation document on potential future measures for regulating credit rating agencies at the start of December.
The paper was the result of a call by the European Commission in July 2004 for technical advice from CESR about potential regulation of the firms, which have come under heavy criticism in recent years for their failure to predict major problems at firms such as Enron, Parmalat and Worldcom. Investors are also growing concerned that the firms have conflicts of interest among their divisions -- all
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