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Article: ASIC puts squeeze on ratings agencies.
- Article from:
- Australasian Business Intelligence
- Article date:
- November 12, 2009
CopyrightCOPYRIGHT 2009 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Matthew Drummond and Patrick Durkin
Nov 12, 2009 (The Australian Financial Review - ABIX via COMTEX) -- The Australian Securities & Investments Commission is withdrawing an exemption from liability enjoyed by the three main credit ratings agencies. In future they may be sued by investors losing money due to incorrect or misleading information in prospectus documents that was supplied by the firms. The change is being applauded by litigation funder IMF (Australia). There is a global backlash against the ...