Europe resolves to regulate rating agencies
BRUSSELS - Rating agencies are no longer in doubt about the regulatory road ahead in the European Union. The European Commission adopted its proposals for the regulation of the credit rating agencies on November 12. As predicted, conflicts of interest between structured products ratings and advisory services are a major focus. But the Commission has softened its rhetoric to allow for closer alignment with the views of industry and other supervisors in Europe and the US.
In particular, the
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