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Legal Aspects Of The Regulatory Framework For Credit Rating Agencies

Author

Listed:
  • Oana Mihaela MARIOARA (ORHEIAN)

    (Academy of Economic Studies, Bucharest)

  • Ioana Gabriela GRIGORESCU

    (Romanian-American University, Faculty of Managerial Informatics)

Abstract

This article makes an analysis of the main regulations used by the credit rating agencies on the financial market. The article describes the main specific legislation on credit rating agencies existing on the market. Credit rating agencies are issuing independent opinions on the reliability of an entity, of a debt, of financial obligations, or of a certain financial instrument. The credit ratings issued by the credit rating agencies established in the European Union are analysed by investors, debtors, issuers and governments, helping all these entities in making any decisions on investments and financing. These ratings may also serve as reference for determining their own funds, necessary to ensure the solvency or reference helping the investors in assessing any risks related to their investment activities. Rating agencies and the products they offer on the international capital market are subject of various researches, which mainly refer to market structure and organization, to the architecture of agencies` s rating systems, to the rating functions, to the controversies concerning rating activity, the role of rating agencies and rating quality.

Suggested Citation

  • Oana Mihaela MARIOARA (ORHEIAN) & Ioana Gabriela GRIGORESCU, 2014. "Legal Aspects Of The Regulatory Framework For Credit Rating Agencies," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 4, pages 313-318, July.
    • Handle: RePEc:cmj:seapas:y:2014:i:4:p:309-313
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    More about this item

    Keywords

    Regulation; Directive; Credit agency;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

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