Australia: ASIC's surveillance of credit rating agencies

The Australian Securities and Investments Commission has published a report titled Surveillance of credit rating agencies: see here (pdf). The report presents the results of ASIC's review of credit rating agencies' governance arrangements, transparency and disclosure, between 1 January 2016 and 31 October 2017. It contains six recommendations. All of the licensed credit rating agencies in Australia - six in total - were part of the surveillance activity conducted under section 912E of the Corporations Act 2001.