Russian Central Bank Proposes Regulating Foreign Rating Agencies – 26 August 2014

RT logoForeign rating agencies may need to set up subsidiaries in Russia instead of branches or representative offices, so their operations could be subject to Russian legislation. It is seen as another attempt by Russia to better control its domestic finances.

The Central Bank of Russia has proposed a bill that would regulate operations of rating agencies in Russia, Kommersant reports.

Moody`s, S&P and Fitch acknowledged the receipt of the draft law but declined to comment.

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