Credit rating agencies: the saga continues for better protection of the financial markets’ stability and investors

Belgium

This short article will highlight significant and major improvements to Regulation 1060/2009 on credit rating agencies, as amended from time to time (the “CRA Regulation”) and approved by the European Parliament last January. Those significant and major improvements are the introduction of a mandatory rotation rule, the setting up of a calendar for the rating of sovereign debts and the introduction of a civil claim system against credit rating agencies (the “CRAs”).