The European Parliament has adopted a proposal for a regulation regarding credit rating agencies.
The new rules are designed to prevent conflicts of interest regarding ratings, improve the quality of ratings and increase transparency. Credit rating agencies will be required to appoint independent specialists to their advisory council and a system of registration for credit rating agencies will be introduced. Credit ratings from third countries may be used under strict conditions. Agreement on the proposal has already been reached with the Council of the European Union.
The Minister of Finance, Mr Bos, wrote a letter (in Dutch) to the Second Chamber of Parliament in which he stated that he was satisfied with the regulation.