The International Organization of Securities Commissions (IOSCO) published today the final report on Supervisory Colleges for Credit Rating Agencies, which recommends establishing supervisory colleges for internationally active credit rating agencies (CRAs). The report provides preliminary guidelines on how to constitute and operate supervisory colleges and outlines the principles, objectives and benefits of establishment.

The recommendations are aimed at improving the integrity of CRAs, as part of IOSCO’s effort to enhance investor protection and the fairness, efficiency and transparency of securities markets. The supervisory colleges would create a mechanism for sharing and discussing information between supervisors with the goal of promoting a better understanding of the risks faced or posed by an internationally active CRA and how relevant supervisors are addressing these risks.