Barnier leads crackdown on credit rating agencies

michel-barnier-ec

Credit rating agencies could face lawsuits in the future if they are found liable of causing damage to an investor, under proposals published by the European Commission (EC) on Tuesday. 

According to a draft directive and draft regulation from the EC, credit rating agencies should be liable if they infringe regulations “intentionally or with gross negligence”. The commission says the rules would make credit rating agencies more accountable for the ratings they provide. “Credit rating agencies sh

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