CESR publishes answers on application of the IOSCO code by CRAs

04 October 2006

CESR published the answers received to its Questionnaire on the day-to-day application of the IOSCO code by the Credit Rating Agencies

In March 2005 CESR delivered its advice regarding the potential options to regulate Credit Rating Agencies. In its advice, CESR proposed not to regulate the Credit Rating Agencies industry at an EU level for the time being, and instead proposed that a pragmatic approach should be adopted to keep under review how CRA’s would implement the standards set out in the IOSCO Code of Conduct. CESR has therefore developed this strategy on the basis of voluntary participation from CRAs. The CRAs that have chosen to adhere to the voluntary framework are Moody’s, Standard and Poors’, Fitch Ratings and Dominion Bond Rating Service Limited.

Responses

© CESR - Committee of European Securities Regulators