IOSCO consults on CRA reliance: IOSCO is consulting on good practices for reducing reliance on credit rating agencies (CRAs) in asset management. It stresses the need for asset managers to have the appropriate expertise and processes to assess and manage credit risk arising from their investment decisions. CRA ratings can complement the internal analysis and provide independent opinion, but managers should not over-rely on them. IOSCO asks for comment by 5 September. (Source: IOSCO Consults on CRA Reliance)