The new legislation will put in place a single point of entry for the registration of agencies. The European Commission will have, before a legislative initiative in July 2010, to establish a genuine European supervision.
Credit Rating Agencies will be registered, monitored and supervised in Euorpe according to the new legislation adopted in Parliament. The second important point is that the notes used in Europe in the financial field will be made by credit rating agencies registered in Europe, rapporteur Jean Paul Gauzes said, commenting on the vote. There is one exception - it is in the case noted entities or products that are outside the EU, he said.
The new legislation will put in place a single point of entry for the registration of agencies. The European Commission will have, before a legislative initiative in July 2010, to establish a genuine European supervision.
Interview Gauzes
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