A Critical Analysis of the Recent Russian Regulation on Credit Rating Agencies
Since the recent financial crisis of 2008, credit rating agencies (CRAs) have been under scrutiny for their role in the proliferation of structured finance products. Whether their methodological tools and evaluations have been up to standard is in question. As is well-known, CRAs are multinational enterprises that operate on a global basis. Their evaluations may well hinder the stability of international markets. As a legal response to the many concerns raised about CRAs, different approaches have been applied to the use of credit ratings in the US and EU with many similarities. In this international scenario, the government of the Russian Federation also recently introduced a new regulation on CRAs, drafted on the lines of the European regulation. This short paper is targeted to inform the reader of certain aspects of the newly approved regulation in Russia and to examine – in a comparative way – whether the introduced rules match the expectations behind the initiatives of the Russian government.
About the AuthorLorenzo Sasso
Associate Professor of International Commercial Law, National Research University – Higher School of Economics (3 Bol’shoy Trekhsvyatitel’skiy pereulok, 101000, Moscow, Russia
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For citation: Sasso L. A Critical Analysis of the Recent Russian Regulation on Credit Rating Agencies. Russian Law Journal. 2016;4(2):62-82. https://doi.org/10.17589/2309-8678-2016-4-2-62-82
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