US Statutory Regulation

  • Mohammed Hemraj


Chapter  3 dealt with the self-regulation of credit rating agencies (CRAs) based on their own codes of conduct supplemented by the International Organization of Securities Commissions (IOSCO) Code. “The ‘worldwide credit crisis’ has thrust credit rating agencies into the spotlight, with attention focused on their ratings of novel structured finance products”. “Policymakers have undertaken a number of initiatives intended to address perceived problems with such ratings – enhancing competition, promoting transparency, reducing conflicts of interest, and reducing ratings-dependent regulation”. This chapter will examine additional statutory reforms that were necessary to adjust shortcomings to ensure CRAs do act as responsible gatekeepers. In this regard, this chapter will focus on two important statutory regulations introduced in the US. Section 4.2 will analyse the provisions of the Credit Rating Agency Reform Act 2006 (Reform Act). Section 4.3 will analyse the provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (Dodd-Frank), and the assessment of these regulations appears in Sect. 4.4.


Rating Agency Credit Rating Security Exchange Credit Rating Agency Security Analyst 
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Copyright information

© Springer International Publishing Switzerland 2015

Authors and Affiliations

  • Mohammed Hemraj
    • 1
  1. 1.BirminghamUK

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