Research On The Supervision System Of Credit Rating Agencies In China

After Enron,subprime mortgage crisis in the United States in particular,credit rating agencies became common knowledge.There have similar examples in the history of our securities industry.Ten years ago,the FUXI short-term security turmoil,Shanghai Far East Credit Rating Co.lowered its rating from A-plus to C,investors,underwriters,rating agencies were suffered from these shock waves.Several credit rating scandals,not only cause serious question for investors to credibility,a rating agency,also make the operation of the financial market order in chaos.So,only use of regulatory measures,in order to better support the development of credit rating.In terms of supervision legislation,the decentralized system of supervision objects;the law is on the low level.In terms of supervision contents,market access standard of credit rating agency not unified;the way to stop the conflicts of interest are clear enough,guard system is too empty.On the basis of thorough analysis of the US credit rating agency reform,I trying to find out the beneficial reference of establishing related system in China.In terms of supervision subject,it sets up a coordinating committee to strengthen exchanges and cooperation between each other;about market access standard,it unified used business license system;the conflict of interests,it needs more substance.Fortunately,our country's credit rating agencies have some notable progress,for instance the information publishing institution.Should the legal status of supervision documents be improved? Which status ? Should the withdraw mechanism of credit rating agencies be strictly limited? I also have relevant thinking about these questions.