EU shake-up for rating agencies

The FT reports of sweeping changes to regulation of credit ratings that were to be proposed by the European Commission later in 2011 that would deal a blow to the business models of the big three agencies that issue them. The FT had seen a draft of the controversial proposals in October 2011.

ESO: Background information: EU moves to rein in ratings agencies http://www.europeansources.info/record/eu-moves-to-rein-in-ratings-agencies/

European Commission: DG Internal Market and Services: Securities: Rating Agencies http://ec.europa.eu/internal_market/securities/agencies/index_en.htm

EUObserver, 20.10.11: EU institutions hit back at markets, ratings agencies http://euobserver.com/19/113999

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