US-refusal to register China rating agencies intended to safeguard monopolistic position in the rating

As China's credit rating agencies, the public right to maintenance creditors interests in the United States launched ratings business judgment debtors risk. While the United States SEC of deliberate refusal to clear the obstruction of the Grand Duke the right to speak for international rating to maintain its three major rating agencies monopoly

September 26, China's largest credit rating agencies in respect of large public international zixinpingguyouxiangongsi United States Securities and Exchange Commission (SEC) refuse to register for the United States "national recognized statistical rating organizations," statement of qualifications apply. The statement says, the Grand Duke does not accept any granting national sovereignty as a condition of rating qualification; cross-border supervision "to" refuse to be on China and Chinese rating agencies. It is learnt that the Grand Duke of the international application is, since the relevant provisions came into effect in 2007, the first being denied by the company's SEC.

September 23, SEC official website to "unable to fulfil their commitments to the Grand Duke of supervision" shall not "cross-border supervision" as an excuse to reject applications for large public international qualification. SEC in a paper pointed out that "regardless of the question of jurisdiction, the Grand Duke previously seemed unable to comply with federal securities law regarding record retention, documents, and checks. "" Grand Duke related documents and reports submitted to the inspection of production and of the proposed restriction has not fully subject to the securities laws and regulations. "At the same time, the United States Securities and Exchange Commission requires large public international acceptance of the so-called" cross-border supervision ".

Grand Duke international in the statement that the Grand Duke does not accept any granting national sovereignty as a condition of the rating agency. "Cross-border supervision" is related to national sovereignty, national regulatory authorities consult or international mutual assistance in the "regulatory" resolved, and the Grand Duke for United States rating qualification is a market behavior. But the United States SEC will keep both hooks and as the only grounds for refusal, which is absolutely unacceptable. Large public strongly supports national regulatory authorities to protect national sovereignty in the decision.

Large international public opinion to "cross-border supervision" denial is on China and Chinese rating agencies. It is understood that in the United States has "the State recognized statistical rating organizations" qualification of three foreign rating agencies, the United States SEC will never be "cross-border supervision" as the necessary audit criteria, never on three foreign rating agencies had a "cross-border supervision". This only on large public settings of this disorder, will undoubtedly be on China and the Chinese rating agency of discrimination.

The Grand Duke the international expression "on the United States in SEC's decided to retain the right of access to justice" at the same time, its critics said: "the financial crisis demonstrated that credit rating to maintain sovereignty and security of the State financial vital role. As the largest creditor countries United States, China in the United States has a huge amount of financial assets, shall enjoy the right to speak in us rating for maintaining the security of our overseas financial assets. As China's credit rating agencies, the public right to maintenance creditors interests in the United States launched ratings business judgment debtors risk. While the United States SEC of deliberate refusal to clear the obstruction of the Grand Duke the right to speak for international rating to preserve its monopoly of the three major rating agencies. ”

A bit reluctant named China's financial market researchers to the international financial newsletterâ press analysis said that the United States is likely to maintain their monopoly position in the rating agencies. But truly effective monopolies or constantly improve their own abilities, "good to be recognized by the international market, in order to meet the international legal constraints on the so-called".