What is it about?
The paper investigates the role and responsibility of credit rating agencies in promoting soundness and integrity, especially in the course of their business activities. In order to give effect to this investigation, the article uses the framework for the activities of credit rating agencies that the International Organization of Securities Commissions (IOSCO) provides.
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Why is it important?
It is interesting to see how credit rating agencies are acting over the area of professional integrity, in the light of criticism that they have received in the wake of the global financial crisis. There is little in the literature on this issue, which should contribute to readers' interest in the paper.
Perspectives
The IOSCO framework gives a perspective on the actions that credit institutions should take, which does not directly concern measures taken by various legislatures in respect of these organisations. Soft law instruments that the international legal organisations publish are often followed by countries, and the spirit of those rules tends to effect the direction of developments in financial regulation.
Dr Graeme Baber
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This page is a summary of: The role and responsibility of credit rating agencies in promoting soundness and integrity, Journal of Money Laundering Control, January 2014, Emerald,
DOI: 10.1108/jmlc-09-2013-0031.
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