Credit Ratings are an integral part of the Investment Institutions division which is responsible for the oversight of financial markets. They are committed to meeting G20 recommendations on the regulation of Credit Rating Agencies (CRAs) and as such, committed to assisting the Financial Sector Conduct Authority in executing its responsibilities.
Our regulatory approach is to have a risk-based supervisory model and to avoid excessive regulatory encumbrance. We also encourage high standards of ethical conduct and integrity from the FSCA and its people by demonstrating professionalism, independence, efficiency, leadership and resolve in the discharge of our responsibilities and we ensure administrative fairness utilising a consultative process and emphasising our accessibility, transparency and accountability in the performance of our functions.
We supervise credit rating agencies and monitor their role in financial markets and are committed to meeting the G20 recommendations on the regulation of Credit Rating Agencies, which include, inter alia, creating a globally-consistent regulatory framework for credit rating agencies and mandatory registration of CRAs.
The department draws on the recommendations of the International Organisation of Securities Commission (IOSCO) and the work undertaken by a number of international organisations.
