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RegulationsDecember 1 2004

EU’s plan to regulate is fiercely opposed

Credit rating agencies, currently under EU scrutiny, maintain that they need neither harmonisation of standards nor more rules – and the banking industry agrees. Sergio Beristain reports.
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The EU is currently assessing credit rating agencies. In particular, it is looking at the research methods they use as well as potential conflicts of interest.

The Committee of European Securities Regulators (CESR), the regulator group inside the European Commission (EC), will complete its final advice in April 2005 after it gathers information from its previous call for evidence and from its next open hearing.

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