This article examines the use of ratings by various market constituents, analyzes the details of the SEC proposals, and reviews the provided feedback. The main finding is that the majority of the market participants opposed the SEC proposals. Fiduciaries and regulated entities are looking to regulators to offer a common measure of risk, stable, accurate and free of conflict of interests.
Baklanova, V. (2009), "Regulatory use of credit ratings: how it impacts the behavior of market constituents", Choi, J.J. and Papaioannou, M.G. (Ed.) Credit, Currency, or Derivatives: Instruments of Global Financial Stability Or crisis? (International Finance Review, Vol. 10), Emerald Group Publishing Limited, Bingley, pp. 65-103. https://doi.org/10.1108/S1569-3767(2009)0000010006Download as .RIS
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