New Rules for Risk Rating Companies
Costa Rica's new regulation for Certification of Securities and Risk Rating Companies has entered into effect.
Wednesday, September 16, 2009
In November 2nd, 2006, the Supervisor of the Financial System (CONASSIF), approved the "Regulation on Rating of Securities and Risk Rating Companies". On September 11th, it was published in the Official Gazette, officially entering into effect.
An investigation is being carried out on the impact that changing the requirements for the composition of funds could have on tax revenues.
The adjustments to the rules that will come into force will make the financial sector, which had become stagnant, more attractive.
The most perverse thing about the credit risk rating system is that it has weakened (deliberately?) the indispensable analytical skills of investors.
A new regulation code overseeing credit cards, by the Economy Ministry (MEIC), will come into effect on November 3.
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