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RATING AGENCIES BASHING CONTINUES UNABATED

The House of Representatives (USA) passed a bill which repeals an exemption that credit rating agencies have enjoyed from the Securities and Exchange Commission’s Regulation Fair Disclosure.  No longer will they have access to corporate information that is denied to average investors.   Two congressmen Barney Frank and Paul Kanjorski (D., Pa.) have produced legislation that is aimed to end the ... Read More »

MOODY’S AND S&P SCALE BACK BUSINESS DUE TO OVER-REGULATION IN AUSTRALIA

In a move that highlights the difficulty of regulating ratings agencies, Standard & Poor’s has joined Moody’s in withdrawing its application to supply ratings of corporate bonds and other debt-based securities to retail investors in Australia, after the Australian Securities and Investments Commission announced new rules this month. The rules, which will take effect Jan. 1, are intended to improve ... Read More »