Iosco releases rating agency code of conduct

The International Organisation of Securities Commissions (Iosco) has held its 33rd annual conference in Paris. The conference coincided with the publication of Iosco's final report on its code of conduct for credit rating agencies, produced by the Technical Committee in response to turbulence in the structured finance market, specifically related to subprime mortgages.

The section of the report focusing on ratings sets out a voluntary code for rating agencies. It advises rating agency analysts

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