IOSCO report - Good Practices on Reducing Reliance on CRAs in Asset Management

The International Organization of Securities Commissions has published its final report Good Practices on Reducing Reliance on CRAs in Asset Management: see here (pdf). The report is addressed to national regulators, asset managers and investors. It suggests specific practices that can be undertaken to reduce the potential over-reliance on external credit ratings, whilst noting that such ratings can provide useful, and sometimes necessary, benchmarks for asset managers and investors.