CESR call for evidence on application of the IOSCO Code of Conduct

06 July 2006

CESR publishes today a questionnaire to gather information on the day-to-day application of the Credit Rating Agencies codes in practice. The questionnaire follows the structure of the provisions in the IOSCO Code and focuses on the aspects where more practical difficulties could arise for CRAs when applying their own codes.

CESR intends to publish a report by the end of October and anticipates that this report will have two separate sections.

The first section of the report will identify for each CRA adhering to CESR’s voluntary framework whether there are any provisions of the IOSCO code that they have chosen to explain rather than comply with. This will be based on the letters of disclosure submitted to CESR by the rating agencies on their compliance with the IOSCO code.

The second part of the report will provide indications of the level of day-to-day application of the codes in practice.

The deadline for comments will be 15 August 2006.

Press release
Questionnaire
Public statement Update on CESR’s dialogue with Credit Rating Agencies to review how the IOSCO code of conduct is being implemented

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