The G20 agreed here on Saturday to "regulatory oversight" of all credit ratings agencies, which are under fire for being too slow to alert investors to the dangers of high-risk investments.
The G20 group of rich and emerging economies has agreed to "regulatory oversight, including registration, of all credit rating agencies whose ratings are used for regulatory purposes," said a final communique following talks.
Saturday's meeting of finance ministers and central bankers also recommended that a G20 summit on April 2 agrees to "an appropriate degree of regulation and oversight" of "important financial institutions, markets and instruments."
It also wants to see that "hedge funds or their managers are registered and disclose appropriate information to assess the risks they pose."
Highly speculative and lightly regulated hedge funds have been blamed for fuelling instability in financial markets.
The G20 group of rich and emerging economies has agreed to "regulatory oversight, including registration, of all credit rating agencies whose ratings are used for regulatory purposes," said a final communique following talks.
Saturday's meeting of finance ministers and central bankers also recommended that a G20 summit on April 2 agrees to "an appropriate degree of regulation and oversight" of "important financial institutions, markets and instruments."
It also wants to see that "hedge funds or their managers are registered and disclose appropriate information to assess the risks they pose."
Highly speculative and lightly regulated hedge funds have been blamed for fuelling instability in financial markets.
No comments:
Post a Comment