This paper focuses on the National Recognized Statistical Rating Organizations (NRSROs) and Credit Rating Agencies (CRAs) operating in Europe before and after the latest reforms. Particular attention is given to Section 15E(h) of the Securities Exchange Act of 1934, IOSCO's Code of Conduct...

The Credit Rating Reform and Dodd-Frank Acts significantly increased US credit rating regulation, yet few academic studies have examined their impact or capitalized on the regulatory disclosure data. To facilitate research in the area, this paper outlines the evolution of credit rating industry...