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Mr Barroso will attend the G20 leaders' meeting later this month (Photo: European Communities, 2008)

Brussels sets out plans to regulate credit rating agencies

The European Commission has come forward with a list of amendments to revise EU rules on credit rating agencies, aiming to boost transparency and centralise supervision at the European level.

Under the proposals, the European Securities and Markets Authority (ESMA) - a new body whose legislation is currently being negotiated by member states and the European Parliament - will take over the supervision of rating agencies in Europe from national authorities.

Announcing the plans ...

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Mr Barroso will attend the G20 leaders' meeting later this month (Photo: European Communities, 2008)

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