6 Amendments of Sajjad KARIM related to 2010/2302(INI)
Amendment 1 #
Draft opinion
Recital A
Recital A
A. whereas it welcomes the ongoing work on regulation in the credit rating agency industry and encourages all actors – at the national, European and international levels – to strengthen the ongoing regulation processto work together to improve the regulatory regime,
Amendment 2 #
Draft opinion
Recital B
Recital B
Amendment 7 #
Draft opinion
Paragraph 1
Paragraph 1
1. Calls on the Commission to encourage existing businesses to become registered as CRAs under European legislation by reducing barriers to entry or to expand in the CRA sector, especially for niche markets such as local SMEs, but also for structured credits or public debt; considers that this wouldmay enhance competition in this sector and that, in order to be visible at European level, small CRAs could be encouraged to establish networks; but strongly cautions that such measures should not reduce the quality or standard of ratings; suggests the Commission could investigate methods of supporting networks of CRAs, but takes the view that any such network be an industry-led initiative;
Amendment 9 #
Draft opinion
Paragraph 2
Paragraph 2
Amendment 12 #
Draft opinion
Paragraph 3
Paragraph 3
3. Considers thatNotes that there may be circumstances where obtaining at least two ratings, e.g. for calculation of capital requirements, are recommended; further considers that this would improve the accuracy of the regulatory capital calculationmay be advantageous; but considers that the number of ratings obtained should be determined according to the needs of the market;
Amendment 14 #
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that all measures should be taken in order to avoid too favourable ratings being given by reducing any conflicts of interest, e.g. by disclosure of the methodologies, especially for ratings of sovereign debt, and rethinking the payment model on the basis of a ‘payment upon request’Notes all payment models necessarily contain conflicts of interest, and invites the Commission to examine measures to reduce or identify conflicts of interest in the variety of payment models used in the credit ratings sector.