Esma calls for tougher regulation of credit ratings agencies
European laws mentioning credit ratings should be revised, regulator says
The European Securities and Markets Authority (Esma) has told the European parliament that the regulations affecting private credit ratings agencies (CRAs) need to be reformed.
Evert van Walsum, head of Esma’s investors and issuers department, told the parliament’s economic and monetary affairs committee on May 3 that problems remain with the concentration of the credit ratings industry and some market participants’ reliance on it. Esma also needs tougher sanctioning powers to use against CRAs
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