Bank of England governor Mervyn King has urged investors and public authorities to pay less attention to ratings agencies, which he said have often "rushed" to downgrade.
Appearing before the Treasury Select Committee (TSC) today to discuss the Financial Stability Report, King was asked whether he believed there are "rogue" ratings agencies. Although he insisted there has never been a suggestion of criminal behaviour by agencies, he said some have been "carried away...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
