The Law and Regulation of Credit Rating Agencies in the EU and USDe (autor) Alan Wells, Peter Yeoh
en Limba Engleză Paperback – 30 Jun 2013
Contents includes: Introduction: How and Where It All began; The Practice of Credit Ratings: Why Credit Ratings; Types of Credit Ratings; Reading Credit Rating Scales; The Credit Ratings Market; The Three Dominant Global CRAs and the Implications of Market Concentration; The Rating Process: Best Practices and Problems; The Regulatory Environment: The Free Market Era; Nature and Characteristics of the IOSCO Code; The Pros and Cons of Using the IOSCO Code; The Dawn of Co-Regulation: Enron 2002 and the Rise of Co-Regulation in the US; Co-Regulation in the US (IOSCO Code and US CRA 2006); Co-Regulation in the EU (IOSCO Code and EU 2009 Act); What is the Difference?; The Rise of Enhanced Regulation: The Links of CRAs to the 2007/08GFC: Blameworthiness; US Regulatory Response: The 2010 Dodd-Frank Act on CRAs; The Links of CRAs to the 2011/12 European Financial Crisis (EFC); EU Regulatory Response: 2010 Amendments to 2009 EU Act and 2011 EU Commission's Proposals; What is the Difference?;CRA Regulatory Developments: Insights and Lessons from the US Experience; Insights and Lessons from the EU Experience; Potential for Cross-Fertilisation of Experiences; Conclusions: From Vanilla Bond Ratings to Complex Financial Products' Ratings and Sovereign Credit; Ratings; From Competition to Conflicts of Interest; From Hands-Off Approach to Focused Regulatory Intervention; What of the Future of Regulatory Intervention in the US and the EU?