
Cesr: CRAs show room for improvement
Daily news headlines
PARIS - As a follow-up to the Group of Twenty conclusions of November 2008 and those of the European Commission in its communication on credit rating agencies (CRAs), the Committee of European Securities Regulators (Cesr) was tasked to report to the EC and the Economic and Financial Committee of the European Union on the progress made by EU-based CRAs towards compliance with the revised International Organisation of Securities Commission's (Iosco) Code of Conduct published in May 2008. Cesr concludes CRAs have been broadly compliant with the Iosco standards but that there is room for substantial improvements.
Cesr notes the agencies have updated their codes of conduct to take into account most, but not all, of the revisions made to the Iosco code, in particular with respect to structured finance products. But it also observes there are a number of provisions on which CRAs deviate from the Iosco code and therefore believes room for improvement exists.
Full details on the Iosco code provisions from which the CRAs deviate, either individually or collectively, are included in the main body of Cesr's report, which can be downloaded here.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Risk management
Union beckons for the three quant tribes
Studies may be deferred, but future for grads is bright, argues UBS’s Gordon Lee
Receive this by email