Ответственность кредитных рейтинговых агентств
In the law on credit rating agencies is not a word about the liability of rating agencies. Legal remedies against unfair ratings as at the moment are not available for both regulator and for bona fide investors. The article discusses approaches to liability of rating agencies established in foreign jurisdictions, and identifies directions for the formation of appropriate legislation in Russia.
The article reviews the evolution of credit risk evaluation over the last 50 years from the financial coefficients to the credit ratings. Some related issues are discussed - they are the rating agencies’ activity, the structure of the ratings market, the peculiar properties of international and Russian ratings markets. The types of credit risk modeling researches are classified.
Russia has adopted a law regulating the activities of credit rating agencies. The article analyses the rules for admission of rating agencies in the market in terms of protecting the rights of users of credit ratings. The author believes that imposed strict requirements would not improve competition of independent credit rating agencies in this market. Comparison of regulation of rating agencies with similar activities of the audit organisations shows only stringent requirements for the first, with very soft regulation of auditors. At the same time there are no effective mechanisms to protect the rights of rated entities and the users of credit ratings.
Russia has adopted a law regulating the activities of credit rating agencies. The article analyses
In the formation of features in regulation of the agreement on awarding credit rating legislator has introduced a number of innovations to solve problems that were previously solved structures such as a public contract, contract of adhesion.
Analysis of new regulation involving coordination with the bases regulator failure of rating agencies to conclude a contract with have addressed the subject, have some obvious flaws, cast doubt on the effectiveness of such rules.The balance of interests of the parties of the agreement on awarding credit rating, users of ratings and the regulator is not reached.