CESR published today a consultation paper which discusses the issue of how to deal with credit rating agencies in a regulatory context within Europe. In particular, whether there are any market failures and whether there is a need for the introduction of some sort of recognition and/or regulation of rating agencies as these are generally not regulated in Europe today. CESR must provide its advice to the European Commission by 1 st of April 2005, which will then assess the need, or not, for introducing European legislation or other solutions in this field.
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Click here to download the Consultation Paper.
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