Study on Regulation of Credit Rating Agencies

The terrible performance of credit rating agencies during the financial crisis shows that self-discipline for the credit rating industry is not enough,and credit rating agencies should be included in the scope of financial regulation.At present,credit rating agencies have not yet hosted social functions into full play.There are still many problems in regulatory system for credit rating agencies in China.Taking the experiences and lessons of developed countries as reference,it's necessary for China to establish perfect legal system of credit rating,to specify a clear regulatory organization system for credit rating as soon as possible,to develop the access and exit mechanisms for the credit rating industry,to regulate strictly the practices of credit rating agencies,to improve credit rating endorsement mechanism,to strengthen self-discipline,so as to further enhance the regulation of credit rating agencies.