INDUSTRY NEWS
European Credit Agencies to Get New, Tougher Regulations
June 16, 2008
Source:The Financial Times
Dublin--Brussels will announce new rules in the coming months for credit rating agencies that operate in Europe, the Financial Times said.
Speaking in Dublin, EU Internal Markets Commissioner Charlie McCreevy said that the regulations--which are a reaction to credit ratings agencies' current role in the sale of complex structured investments--were made to reduce any conflicts of interest ratings agencies might face.
Although the regulations are still being finalized, they are stricter than any rules currently used in the U.S. or other countries, according to the Times.
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