EU supervision of credit rating agencies : well established but not yet fully effective / European Court of Auditors.

Format:

Book

Government document

Contributor:

European Court of Auditors, issuing body.

Series:

Special report (European Court of Auditors) ; no. 22/2015.

Special report, 1831-0834 ; no. 22/2015

Language:

English

Subjects (All):

Credit ratings--European Union countries.

Credit ratings.

Credit bureaus--European Union countries.

Credit bureaus.

Financial services industry--Law and legislation--European Union countries.

Financial services industry.

Financial services industry--Law and legislation.

European Union countries.

Physical Description:

72 pages : color illustrations ; 30 cm.

Place of Publication:

Luxembourg : Publications Office of the European Union, 2015.

Summary:

The 2008 financial crisis focused attention on the credit rating agencies and their impact on financial markets. At the time, there was very little regulation of the agencies in Europe. In 2011, the European Securities and Markets Authority (ESMA) was created to register, monitor and supervise them. This report examines whether ESMA has successfully established itself as the credit rating agencies watchdog for the EU. We conclude that while ESMA has laid down good foundations, its rules and guidelines are not yet complete and significant risks remain to be addressed in the future.-- European Court of Auditors.

Notes:

"QJ-AB-15-022-EN-C"--Back cover.

"Pursuant to Article 287(4), second subparagraph, TFEU".

Includes bibliographical references.

ISBN:

9789287235855

9287235856

OCLC:

945113641