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Rating Agency in Ukraine will receive a new law

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In Parliament registered a bill that aims to regulate their activities in accordance with European standards

The Verkhovna Rada of Ukraine registered a draft Law on rating, which was developed in response to the Association Agreement between Ukraine, the European Union and the European atomic energy community. This reports the press service of NSSMC.

“The current regulation of rating agencies in Ukraine does not meet European practice and standards. The applicable laws do not set requirements for the methodology and rating procedures. Now the information that reveals the rating Agency, which has a mostly statistical character and does not allow for a full analysis of its activities”, – noted in the Fee.

The new bill lays the basis for improving the efficiency and functionality of credit rating agencies. In particular, the document introduces a mechanism of authorization of rating agencies, which intend to assign public credit ratings, and also the mechanism of confirmation of the credit rating assigned to the international (foreign) rating Agency.

In addition to public ratings, the bill allows you to install and private ratings. The document provides for the implementation of state regulation and supervision in the market of rating, responsibility for violation of requirements of the legislation, in particular, is determined by the list of offenses for committing which the rating agencies may apply financial penalties.

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