EU Unveils New Regulation For Ratings Agencies

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EU set to crack down on rating agencies

Brussels is to unveil “targeted regulatory measures” for credit rating agencies operating in Europe over the next few months in response to anger over their role in promoting the sale of complex structured investments.

The moves, to be outlined by Charlie McCreevy, EU internal markets commissioner, in a speech in Dublin today, are partly aimed at addressing potential conflicts of interest in the rating agencies’ business model. Although the proposals are at an early stage, they appear to go significantly further than anything in force in the US or elsewhere