미국 신용평가회사개혁법의 제정과 우리법상 입법정책적 시사점

• 영문명: The Study on Credit Rating Agency Reform Act in U.S. and Some Legal Suggestion
• 발행기관: 한국사법학회(구 한국비교사법학회)
• 저자명: 이원삼(Weon-Sam Lee)
• 간행물 정보: 『비교사법』比較私法 제15권 제1호, 373~416쪽, 전체 44쪽
• 주제분류: 법학 > 법학
• 파일형태: PDF
• 발행일자: 2008.03.30

영문 초록

  Since 1975 the SEC decided to create a wholly new regulatory category: “nationally recognized statistical rating organizations” (NRSROs). Only the NRSROs’ ratings would be valid for the determination of the broker-dealers’ capital requirements.
  In the wake of the Enron bankruptcy and other corporate scandals, the SEC’s NRSRO designation system (and its opaqueness) received attention, as did the potential for conflicts of interest in the issuer-pay model, since a bond rating firm might threaten an issuer with a poor rating unless the latter paid the rater a sufficient fee or agreed to purchase other (e.g., consulting) services from the rater.
  However as President Bush signed the Credit Rating Agency Reform Act of 2006, it made an end of the SEC’s haphazard regulation of this industry over the past 31 years. And the reform could well be as important for the development of U.S. capital markets as any likely reform of Sarbanes-Oxley.
  There are three major rating firms in Korea. Rating firms should strictly comply with the Use and Protection of Credit Information Act(hereafter the Act), also rating Agency is supervised by the act. The act already used registration system.
  However there differ from requirement of decision criterion. The reform act depends on market test but the Act is not. It ignorant market faith about credit rating. This paper analyze major issues of the reform act; the legislation substitutes for the SEC’s opaque NRSRO designation system a relatively transparent and open registration system, and tries to avoid specifying any particular business model, etc., and then suggests some legal suggestions.

목차

Ⅰ. 머리말
Ⅱ. 신용평가의 변천과 기능
Ⅲ. 미국 신용평가회사개혁법의 입법배경
Ⅳ. 미국 신용평가회사개혁법의 주요 내용과 입법정책적 시사점
Ⅴ. 맺음말
【참고문헌】
[Abstract]

키워드

신용평가회사개혁법 평가자 인증 투명성 NRSRO 인증제도 엔론 샤베인-옥슬리 법 Credit Rating Agency Reform Act Rater Certification Transparency SEC Securities and Investment NRSRO Designation System ENRON Sarbanes-Oxley Act