CESR prepares second rating agency review

The European Commission has requested the CESR to prepare a second report on the compliance of rating agencies with the IOSCO code following the success of the first such report last year. The CESR said it will complete the report by the end of this year and is particularly interested in areas of non-compliance identified in its first report and will also look at any changes made by the rating agencies to their codes and the reasons for the changes.