REP 143 Review of credit rating agencies and research houses
Released 13 November 2008.
A joint report by Treasury and ASIC.
This is a joint Report prepared by Treasury and the 91AV and Investments Commission (ASIC) into the regulation of credit rating agencies (CRAs) and financial product research houses (research houses). This Report is a description of the current regulatory framework, regulatory issues, international developments and market context.
This review follows the 22 May 2008 announcement by the Minister for Superannuation and Corporate Law, Senator the Hon Nick Sherry, in which he asked Treasury and ASIC to review the regulation of CRAs and research houses and report to the Government within six months.
In preparing this Report, Treasury and ASIC have had preliminary discussions with a range of CRAs and research houses, industry and consumer groups as well as the Australian Prudential Regulation Authority (APRA).