Press Release: Commission adopts proposal to regulate credit rating agencies

The European Commission has put forward a proposal for a Regulation on credit rating agencies. This proposal is part of a package of proposals to deal with the financial crisis and adds to Commission's proposals on Solvency II, Capital Requirements Directive, Deposit Guarantee Schemes and accounting. The new rules are designed to ensure high quality credit ratings which are not tainted by the conflicts of interest which are inherent to the ratings business.

European Commission: MEMO/08/691: Credit Rating Agencies : Frequently asked questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/08/691&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: SPEECH/08/605: Credit Rating Agencies http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/08/605&format=HTML&aged=0&language=EN&guiLanguage=en

Single Market News, No.52 (2008): Strict rules proposed to regulate credit rating agencies http://ec.europa.eu/internal_market/smn/smn52/docs/credit_rating_agencies_en.pdf

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

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