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Abstract
The article deals with the liability of Credit Rating Agencies (CRAs) for inaccurate ratings towards issuers, clients and any other third party in a comparative perspective. The author focuses on the remedies granted, in particular, to clients of banks who have suffered a loss due to the CRA’s faulty rating, highlighting the substantive differences existing in the jurisdictions considered. It pleads for the introduction of a ‘cap’ to CRA’s liability, as a means to reconcile the statement of liability of CRAs whilst preventing the ‘opening the floodgates’ to compensation which would result in a crushing liability on CRAs.
About the author
Alessandro Scarso
Published Online: 2013-08-13
Published in Print: 2013-08
© 2013 Walter de Gruyter GmbH, Berlin/Boston
