Brussels, 12/04/2011 (Agence Europe) - The regulation giving the European Securities and Markets Authority (ESMA) the power to scrutinise financial ratings agencies registered in the European Union was formally endorsed by the EU Council of Ministers on Monday 11 April, following agreement in principle at the end of 2010 (see EUROPE 10278). The regulation changes EU rules that require credit rating agencies to register with the supervisor of the country in which they are located.
Following...