Credit Rating Agencies – Too Big to Fail?
Journal of International Banking Law and Regulation 2012, 27(1), 27
6 Pages Posted: 29 Feb 2016 Last revised: 3 Aug 2016
Date Written: February 28, 2012
This article examines the reforms introduced in the US and the EU to limit the power of credit rating agencies and address their organisational and structural problems that were exposed by the global financial crisis. It discusses the relevant provisions of the US Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 and notes their current stage of implementation. Summarises the measures introduced by Regulation 513/2011.
Keywords: credit rating agencies, financial regulation, SEC, ESMA, Dodd-Frank Act, IOSCO
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