SEC Notes Progress, Room for Improvement at Credit Rating Agencies
Annual report to Congress says smaller competitors are gaining market share, but persistent problems include lack of sufficient independence at the agencies.
EU Watchdog Growls at Ratings Agencies
The European Union agency that presides over the ratings actions of the likes of Moody's, Standard & Poor's, and Fitch Ratings has begun an investigation into how they arrive at rankings for sovereign bonds and other debt, and it warns that if wrongdoing is uncovered, the penalties could be severe.
EU Plans to Shake Up Ratings Agencies
A new draft law unveiled Tuesday by the European Union angered ratings agencies Moody's, Standard & Poor's and Fitch, although according to Internal Market Commissioner Michel Barnier it is designed to inject competition into the sector, currently dominated by the 'big three.'
European Markets Gain Ground After Ban on Short Selling
Europe's markets seemed to have regained some of their appetite for risk on Friday as shares rose. Part of the reason was a ban on the short selling of stocks put in place Thursday night by some euro zone countries.