ESMA cautions on plans to bolster competition in ratings

01/24/2012 | Reuters

Verena Ross, executive director of the European Securities and Markets Authority, said the regulator supports bolstering competition in the credit rating sector, but concerns remain. "At least in the short term, there is a risk that new entrants will come by offering higher ratings or lower prices," Ross said. The European Commission proposed in November a blueprint for increasing rating competition and lessening the dominance of Moody's Investors Service, Standard & Poor's and Fitch Ratings.

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