Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-15-Speech-2-462"
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"en.20100615.28.2-462"2
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"Against the general backdrop of the crisis, the crisis that has come about in the area of credit rating agency allocation reveals the dangers of this system. The most important thing is that no one feels responsible for the final result of risk assessment, although the activities of these agencies have a significant impact on the stability of the financial market, and very significant opportunities to obtain credit and the cost of credit depend on them. On the other hand, it is good that the Commission, understanding that we need to restore faith in the market and increase investor protection, is providing new EU-wide rules laying down general procedures for the regulation of credit rating agencies. The amendment of credit rating agency rules means better supervision at European Union level and greater transparency in this sector, but it is necessary to analyse this sector further and in more detail.
It is necessary to ensure adequate credit rating agency controls and to issue appropriate penalties for infringements. Loans in rating agency activities must become more transparent so that investors and rating users are better protected and, most importantly, so that the credit rating sector becomes more competitive."@en1
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