IOSCO Code of Conduct Fundamentals for Credit Rating Agencies - ACT-AFTE-AFP Comments

1 November 2004

The Treasury Associations broadly welcome the draft Code of Conduct Fundamentals. In a competitive market, the market is seen as the ultimate and best regulator of CRAs and the Treasury Associations would regret the extension of regulatory oversight to jurisdictions where it does not currently exist. A Code is potentially especially useful in such markets