Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Credit bureaus
Languages : en
Pages : 16

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Book Description

Author: The Law Library
Publisher: Independently Published
ISBN: 9781794278387
Category : Law
Languages : en
Pages : 160

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Book Description
The Law Library presents the complete text of the Oversight of Credit Rating Agencies Registered as Nationally Recognized Statistical Rating Organizations (US Securities and Exchange Commission Regulation) (SEC) (2018 Edition). Updated as of May 29, 2018 The Commission is adopting rules to implement provisions of the Credit Rating Agency Reform Act of 2006 (the "Rating Agency Act"), enacted on September 29, 2006. The Rating Agency Act defines the term "nationally recognized statistical rating organization," provides authority for the Commission to implement registration, recordkeeping, financial reporting, and oversight rules with respect to registered credit rating agencies, and directs the Commission to issue final implementing rules no later than 270 days after its enactment (or by June 26, 2007). The rule and form prescribing the process for a credit rating agency to apply for registration are immediately effective. The remaining rules are effective on June 26, 2007. This ebook contains: - The complete text of the Oversight of Credit Rating Agencies Registered as Nationally Recognized Statistical Rating Organizations (US Securities and Exchange Commission Regulation) (SEC) (2018 Edition) - A dynamic table of content linking to each section - A table of contents in introduction presenting a general overview of the structure

Author: Ryan G. Bilson
Publisher: Nova Science Publishers
ISBN: 9781621004196
Category : Credit rating agencies
Languages : en
Pages : 0

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Book Description
"Report to Congressional Committees, United States Government Accountability Office."

Author: Government Accountability Office
Publisher: Createspace Independent Publishing Platform
ISBN: 9781976270901
Category :
Languages : en
Pages : 122

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Book Description
2006, Congress passed the Credit Rating Agency Reform Act (Act), which intended to improve credit ratings by fostering accountability, transparency, and competition. The Act established Securities and Exchange Commission (SEC) oversight over Nationally Recognized Statistical Rating Organizations (NRSRO), which are credit rating agencies that are registered with SEC. The Act requires GAO to review the implementation of the Act. This report (1) discusses the Act's implementation; (2) evaluates NRSROs' performance-related disclosures; (3) evaluates removing NRSRO references from certain SEC rules; (4) evaluates the impact of the Act on competition; and (5) provides a framework for evaluating alternative models for compensating NRSROs. To address the mandate, GAO reviewed SEC rules, examination guidance, completed examinations, and staff memoranda; analyzed required NRSRO disclosures and market share data; and interviewed SEC and NRSRO officials and market participants.

Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 144

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Book Description

Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 140

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Book Description

Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 184

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Book Description

Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 64

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Book Description

Author: Fabian Dittrich
Publisher: Lulu.com
ISBN: 9781847999504
Category : Business & Economics
Languages : en
Pages : 180

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Book Description
This study provides a comprehensive analysis of credit rating economics and draws conclusions on the nature of regulation. It starts with an overview of the credit rating industry and introduces a framework that structures multiple rating agency functions. At the heart of the credit rating business model lies the reputation mechanism, which is analyzed in detail. After analyzing the reputation mechanism, the study takes a wider look at the industry and identifies the forces behind credit rating supply and demand. From an industrial organization perspective competition in the credit rating industry is limited. A comprehensive review of potential reasons for regulating the credit rating industry, however, reveals that there are only few compelling arguments. The regulatory approaches of the EU under the Capital Requirements Directive of 2005 and the USA under the Credit Rating Agency Reform Act of 2006 are contrasted against an optimal regulatory regime.

Author: Raquel García Alcubilla
Publisher: OUP Oxford
ISBN: 0191640999
Category : Business & Economics
Languages : en
Pages : 320

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Book Description
Credit rating agencies have been criticized for their role in the financial crisis by understating credit risk. The US subprime mortgage crisis highlighted the systemic relevance of the rating agencies and the deficiencies in their activities; this led to an international consensus to regulate the rating business. Written by those involved in developing European Legislation, this book explains EU Regulation in the context of global initiatives undertaken by the G-20, the Financial Stability Board, and IOSCO to address failures within the rating industry. Through an in-depth analysis of the EU Regulation's requirements on governance, conflicts of interest, methodologies, and transparency, the book provides a clear explanation of how rating agencies operate and how the identified failures have been addressed. Moreover, it examines the supervisory and enforcement powers of ESMA, the EU authority in charge of the registration and oversight of rating agencies. This is complemented with an analysis of guidance from supervisors (ESMA and EBA), IOSCO's recommendations, and US legislation. The book discusses possible new regulatory developments in areas such as the agencies' business model, competition, civil liability, and ratings of sovereign debt, in light of the Euro debt sovereign crisis. It concludes with the authors' support for an enhanced regulatory and oversight coordination at international level and for the implementation of the necessary steps to reduce the existing over-reliance on ratings.