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RA ‘Expert-rating’ publicly disapproves the bill “About state regulation of rating services market’ no. 7041 of 19.08.2010!


01/09/2010

Rating agency ‘Expert-rating’ publicly disapproves the bill ‘About state regulation of rating services market’ no. 7041 of 19.08.2010 (http://gska2.rada.gov.ua/pls/zweb_n/webproc4_1? id = and pf3511=38389), registered in SCU on August, 19th, 2010 by the People’s Deputy Plotnikov A.V. (number 136 in the list of Party of Regions). The analysis of the bill has shown that it is written exclusively in the interests of only one rating agency – RA ‘Credit-rating’ which, having lost support in SCSSM, decided trying to recover monopolist status through parliament. The bill contains a set of norms which essentially limit access to the market of rating services to new participants, and also expand the list of obligatory ratings. In the bill there is no one requirement to the system of quality monitoring of rating assessments, nor even minimal requirements to transparency (openness) of rating process, and its positions often contradict recommendations of the International Organization of Securities Commissions (IOSCO) and the standard requirements to the nationally recognized rating agencies in the developed markets.

Detailed press release

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