Esma calls for more powers over rating agencies and repositories
Agency head says he is not sure if European Commission will act on his recommendations
The head of the European Securities and Markets Authority (Esma) has called upon the European Commission to give his agency more powers over trade repositories and credit rating agencies (CRAs).
Steven Maijoor, chairman of Esma, made some pointed criticisms of the current European regulation of rating agencies in his letter, dated January 27, to Olivier Guersent, the commission's director-general for financial services. Maijoor referred several times to recommendations made by Esma in late 2015
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