Thursday, 20 October 2011

EU mulls rating agency ban

The European Commission is considering a ban on rating agencies publishing their assessments of EU countries in difficulty, the Financial Times Deutschland reports.
The European Union's commissioner for internal markets and services Michel Barnier has drawn up a draft proposal empowering the new European Securities and Markets Authority to "temporarily prohibit" agencies from publishing their analyses on a country's solvency, the newspaper said on Thursday.
FT Deutschland said it obtained a copy of the confidential draft.


http://news.smh.com.au/breaking-news-business/eu-mulls-rating-agency-ban-20111020-1ma8k.html