EURACTIV PR

An easy way of publishing your relevant EU press releases.

ALDE: Regulation of rating agencies: getting it right

Date

12 Nov 2008

Sections

EU Priorities 2020

Regulation of rating agencies: getting it right

12/11/2008

The Liberals and Democrats at the European Parliament support a proposal on the regulation of rating agencies, tabled today by the European Commission. The four major aspects of the proposal match the expectations of the ALDE-Group, expressed in earlier proposals of the European Parliament:
- prevent conflicts of interest and guarantee the independence of ratings;
- reassure the quality of ratings;
- set clear transparency and disclosure obligations;
- set up an effective registration and surveillance regime.

The Commission's proposal follows the right direction and will ensure an orderly admission of rating agencies  
Wolf KLINZ

Wolf KLINZ (FDP, Germany), coordinator of the ALDE-Group at the Economic and Monetary Affairs Committee commented:
"The Commission's proposal follows the right direction and will ensure an orderly admission of rating agencies,
more transparency and an enhanced cooperation between the national supervisory authorities. I also welcome the
strengthening of the Committee of European securities regulators, the EU's platform for national securities
regulators".

"However, the proposal does not yet solve the problem of the lack of competition. In this regard we will have to
improve it, as we must achieve, particularly in Europe, significantly lower market entry barriers. We should
encourage companies, which so far have been active only at a national scale, to further engage in cross–border
activities", KLINZ noted.

For more information

Laude Yannick - Tel: +32 2 284 31 69 Mob: +32 495 22 78 37

Heyer Axel - Tel: +32 2 284 47 03 M

Jobs

Centre Tecnològic de Telecomunicacions de Catalunya (CTTC)
Researcher positions in Communication Network Division – Mobile networks department
International Catholic Migration Commission
Senior Rural Integration Project Manager
Progresso APM Consulting
Full Time Secretary
The European Association of Service Providers for Persons with Disabilities
Project Development Officer
The European Association of Service Providers for Persons with Disabilities
Knowledge and E-learning Officer
ALDE - Alliance of Liberals and Democrats for Europe
Engagement Trainee