Council adopts new rules on credit rating agencies

EU News 229/2013

COUNCIL OF THE EUROPEAN UNION
Brussels, 13 May 2013
9465/13
(OR. en)
PRESSE 188

The Council today¹ adopted a directive and a regulation amending the EU's rules on credit rating agencies (CRAs) (69/12 and 70/12).

(...)

The directive and regulation amend existing legislation on CRAs in order to reduce investors' over-reliance on external credit ratings, mitigate the risk of conflicts of interest in credit rating activities and increase transparency and competition in the sector.

1 The decision was taken without discussion at a meeting of the Agricultural and Fisheries Council.

Source and additional information:
http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/137078.pdf

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