Oversight of the Credit Rating Agencies Post-Dodd-Frank
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
Publisher:
Published: 2012
Total Pages: 332
ISBN-13:
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Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
Publisher:
Published: 2012
Total Pages: 332
ISBN-13:
DOWNLOAD EBOOKAuthor: United States Congress
Publisher: Createspace Independent Publishing Platform
Published: 2017-10-03
Total Pages: 330
ISBN-13: 9781977884695
DOWNLOAD EBOOKOversight of the credit rating agencies post-Dodd-Frank : hearing before the Subcommittee on Oversight and Investigations of the Committee on Financial Services, U.S. House of Representatives, One Hundred Twelfth Congress, first session, July 27, 2011.
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
Publisher:
Published: 2012
Total Pages:
ISBN-13:
DOWNLOAD EBOOKAuthor: Andrea Miglionico
Publisher: Edward Elgar Publishing
Published: 2019
Total Pages: 360
ISBN-13: 1786439948
DOWNLOAD EBOOKThe global crisis revealed that credit rating agencies (CRAs) are capable of bringing about potential distortions in the financial sector, thereby resulting in a reduction in market confidence which, in turn, influences negotiations and expectations. CRAs need to be held accountable for lack of transparency and inaccurate ratings, however the existing regulatory framework does not secure adequate investor protection. This book provides a new and important contribution to research in the area, at a crucial time in the debate around financial regulation and investment regimes.
Author: Mohammed Hemraj
Publisher: Springer
Published: 2015-06-22
Total Pages: 291
ISBN-13: 3319179276
DOWNLOAD EBOOKThe book examines the role of credit rating agencies (CRAs) in the subprime mortgage crisis. The CRAs are blamed for awarding risky securities ‘3-A’ investment grade status and then failing to downgrade them quickly enough when circumstances changed, which led to investors suffering substantial losses. The causes identified by the regulators for the gatekeeper failure were conflicts of interest (as the issuers of these securities pay for the ratings); lack of competition (as the Big Three CRAs have dominated the market share); and lack of regulation for CRAs. The book examines how the regulators, both in the US and EU, have sought to address these problems by introducing soft law self-regulation in accordance with the International Organisation of Securities Commissions Code and hard law statutory regulation, such as that found in the “Reform Act” and “Dodd-Frank Act” in the US and similar provisions in the EU. The highly topical book examines these provisions in detail by using a doctrinal black-letter law method to assess the success of the regulators in redressing the problems identified. It also examines the US case law regulation relating to the legal liability of CRAs. The book examines whether the regulations introduced have had a deterrent effect on the actions of CRAs, whether investors are compensated for their losses, and how the regulators have dealt with the issues of conflicts of interest and an anti-competitive environment. Should liability be introduced for CRAs through changes in the law so as to compel them to issue reliable ratings and solve the current problems? The book seeks to simplify the complex issues involved and is backed by concrete evidence; as such, it will appeal to both the well-informed and the lay general public who are interested in learning more about the role of CRAs in the sub-prime mortgage crisis and regulators’ attempts to remedy the situation. Novice readers can familiarise themselves with the legal and financial terminology used by referring to the glossary at the end of the book.
Author: United States. Congress. House. Committee on Oversight and Government Reform
Publisher:
Published: 2009
Total Pages: 230
ISBN-13:
DOWNLOAD EBOOKAuthor: United States. Congress. House. Committee on Oversight and Government Reform
Publisher:
Published: 2010
Total Pages: 208
ISBN-13:
DOWNLOAD EBOOKAuthor: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
Published: 2010
Total Pages: 140
ISBN-13:
DOWNLOAD EBOOKAuthor: Aline Darbellay,
Publisher: Edward Elgar Publishing
Published: 2013-09-30
Total Pages: 292
ISBN-13: 085793936X
DOWNLOAD EBOOKøŠAline Darbellay analyzes the obvious system relevance of credit rating agencies in depth and assesses the possible options for regulatory responses to this systemic issue. Thereby, the book is based on a fruitful comparative legal approach and formul
Author: Daniel Cash
Publisher: Routledge
Published: 2018-08-06
Total Pages: 258
ISBN-13: 1351107895
DOWNLOAD EBOOKThis book examines the transgressions of the credit rating agencies before, during and after the recent financial crisis. It proposes that by restricting the agencies’ ability to offer ancillary services there stands the opportunity to limit, in an achievable and practical manner, the potentially negative effect that the Big Three rating agencies – Standard & Poor’s, Moody’s and Fitch – may have upon the financial sector and society moreover. The book contains an extensive and in-depth discussion about how the agencies ascended to their current position, why they were able to do so and ultimately their behaviour once their position was cemented. This work offers a new framework for the reader to follow, suggesting that investors, issuers and the state have a ‘desired’ version of the agencies in their thinking and operate upon that basis when, in fact, those imagined agencies do not exist, as demonstrated by the ‘actual’ conduct of the agencies. The book primarily aims to uncover this divergence and reveal the ‘real’ credit rating agencies, and then on that basis propose a real and potentially achievable reform to limit the negative effects that result from poor performance in this Industry. It addresses the topics with regard to financial regulation and the financial crisis, and will be of interest to legal scholars interested in the intersection between business and he law as well as researchers, academics, policymakers, industry and professional associations and students in the fields of corporate law, banking and finance law, financial regulation, corporate governance and corporate finance.