Credit rating agencies
are major players in today's financial markets.
The financial market authority is considering broad ways to develop the bond market and other instruments and to allow credit rating agencies
to play an important role by improving the level of transparency between issuers of securities and instruments that need to finance and investors interested in this type of securities," he said.
The report was only the latest salvo in what has become a sustained attack on the very reason why credit rating agencies
Credit rating agencies
also take into account the performance of the industry sector - a company is unlikely to score the highest investment rating if the sector in which it operates is in decline, despite the company's own financial performance and outlook," says Schroeder.
Norm Champ, the Deputy Director of OCIE said, "We expect the credit rating agencies
to address the concerns we have raised in a timely and effective way, and we will be monitoring their progress as part of our ongoing annual examinations.
Walt Winrow, Group Managing Director Global Project & Infrastructure Finance at Moodys, added "the Credit Rating Agencies
really need a setting to discuss critical issues among our peers, and FISD/SIIA can provide a productive home for us.
Today's action by Fitch reaffirms what the financial markets and credit rating agencies
have been saying for some time now: The state's credit rating will not be fully restored until the budget is truly balanced and the state's deficit spending is brought to an end,'' Angelides said in a written statement.
Panelists will also explore current issues, such as conflicts of interest faced by credit rating agencies
as a result of Sarbanes-Oxley.
To provide members in business and industry with information they can use to meet their evolving reporting responsibilities, the group will speak with, for example, investors, credit rating agencies
and other stakeholders in the financial reporting process.
And sometimes people are not even aware of adverse information registered against their address by credit rating agencies
even though they may have lived there for years.
For instance, the SEC is considering instituting more regulation on the Big Three while investigating the role of credit rating agencies
in evaluating issuers of securities, entry barriers to other agencies, ways to speed flows of information and conflicts of interest in operating credit rating agencies
Best applied for registration in accordance with Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16th September 2009 on credit rating agencies
(the Credit Rating Agencies