Regulatory Regimes and Liability Issues
Chapter 11: FINDINGS OF THE RESEARCH
Chapter 11 provides concluding observations along with a summary of presented policy and regulatory recommendations for reform. The findings of this analysis show that 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. Further, it is stressed that CRAs should be subject to professional standards similar to those applicable to other information intermediaries such as auditors and financial analysts. On this view, CRAs should be made responsible for their investment certification because of their fundamental role in the evaluation of credit risk and their influence on confidence and decisions in the financial markets.
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