The topic and purpose of the project is an in-depth legal analysis of (1)
selected aspects of the European regulatory and supervisory regime for
credit rating agencies (CRAs) and (2) the fundamental regulatory approach
to the use of credit ratings in the European Union (Union). Focus will be
on whether and to what extent the legal acts - de lege lata and de lege
ferenda - respond adequately to the malfunctions of the credit rating
sector and are likely to sustainably minimise the respective flaws and
syst emic risks in the financial markets. The analysis shall be
supplemented by a comparative perspective, introducing to at least one
non-European regulatory approach to CRAs, and an interdisciplinary
approach by integrating the macro-economic and/or micro-ec onomic view.