EU To Propose Rules For Credit Rating Agencies

Law360, New York (July 25, 2008, 12:00 AM EDT) -- In an effort to better monitor credit rating agencies, the European Commission will propose a series of amendments to its Capital Markets Directive in October aimed at enhancing risk management and internal governance.

The EC will propose the revisions to the current regulations in October, Commissioner for Internal Market and Services Charlie McCreevy said in a speech earlier this month at the Public Affairs Ireland Conference in Dublin.

The revised rules will include a registration and external oversight regime for all credit rating agencies.

Under the...
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