COMPANIES Credit rating agencies face being regulated in Europe by a single body after proposed ground-breaking legislation was given the go-ahead by a key parliamentary committee in Strasbourg.
The legislation, which will give new powers to the Paris-based Committee of European Securities Regulators (CESR), is now set to be put to European lawmakers next month, ensuring a vote is completed ahead of elections in the summer. The legislation would also need backing from member states, which may still raise objections.
