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La Commission a annoncé qu'elle n'avait pas l'intention, pour l'instant, de proposer une législation particulière pour réglementer les agences de notation, mais qu'elle veillerait à la conformité avec les règles actuelles, qui sont autorégulatrices.
As already signalled by Charlie McCreevy in April 2005, the Commission has decided not to legislate on credit rating agencies - CRAs (see EurActiv 11 April 2005).
Such agencies play an important role in signalling the reliability of companies to potential investors. After their failure to spot the impending collapse of Enron in 2001 and Parmalat in 2003, there were calls for closer regulation of how CRAs operate. In February 2004, the European Parliament asked the Commission to look into the matter.
However, in a communication released on 9 January 2006, the Commission reviewed the current rules relating to credit rating agencies, together with advice received from the Committee of European Securities Regulators (CESR) and concluded that no further specific action is needed.
A number of the FSAP measures already introduced (the market abuse directive, capital requirements directive and the markets in financial instruments directive) do set standards for the agencies. In addition, CRAs must abide by a self-regulatory code concluded by the International Organisation of Securities Commissions.
(23 Dec 2005) [FR]
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