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Credit rating agencies rules revamped
  • William Fry
  • European Union
  • February 26 2013

The European Parliament recently approved new rules relating to rating by credit rating agencies ("CRAs") of Member State debt and the financial

Basel III and debt capital markets
  • King & Wood Mallesons
  • Australia
  • August 29 2012

We are continuing to see domestic regulatory changes and developments mirror that of the international community, with the Australian Government working towards implementing reforms to meet its G20 commitments

Eu Commission publishes CRA III proposals
  • Matheson
  • European Union
  • November 30 2011

On 15 November, the EU Commission published a regulation amending the EU Regulation on credit rating agencies ("CRAs") and a directive amending the UCITS IV Directive and the Alternative Investment Fund Managers Directive (“AIFMD”).

The European sovereign debt crisis paving the way towards financial stability
  • Mayer Brown
  • European Union
  • November 14 2011

The current European sovereign debt crisis has principally emerged with the problems of Greece, where decades of misleading accounting and statistics have brought the country to the verge of collapse.

Irish domiciled UCITS moved to restricted investments status by Chilean regulator
  • Dechert LLP
  • Chile
  • September 1 2011

Irish domiciled UCITS funds (“Irish funds”) today were disapproved for general investment by the Chilean Pensions Regulator, Comisión Clasificadora de Riesgo (the “CCR”).

Standard & Poor’s revises criteria for collateral for U.S. CMBS defeasances in response to U.S. debt downgrade
  • Alston & Bird LLP
  • USA
  • August 18 2011

As an immediate consequence of Standard & Poor’s recent downgrade of the U.S. sovereign longterm debt rating from AAA to AA, the defeasance industry was almost brought to a standstill as the U.S treasuries that are typically utilized as collateral in defeasances transactions no longer met S&P’s defeasance guidelines.

S&P downgrade of U.S. credit rating
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • August 15 2011

On August 5, S&P downgraded the sovereign credit rating of the United States to 'AA' from 'AAA', and stated that the outlook on the long-term rating is negative.

Application of SEC's financial responsibility rules in response to Standard & Poor's downgrade of U.S. long-term credit rating
  • Katten Muchin Rosenman LLP
  • USA
  • August 12 2011

On August 5, the Financial Industry Regulatory Authority, Inc. issued Regulatory Notice 11-38 in response to the downgrade of the U.S. long-term credit rating by Standard & Poor’s.

Downgrade of U.S. debt may impact state and local governments
  • Sherman & Howard LLC
  • USA
  • August 10 2011

The decision of Standard & Poor's (‘S&P") to downgrade the credit rating of the United States may have many yet unknown impacts on the economy in general and state and local governments in particular.

S&P rating downgrade may cause headaches for pension plans
  • Porter Wright Morris & Arthur LLP
  • USA
  • August 10 2011

Are we having fun yet?.