What a Tangled Web We Weave: Conflicts in Rating Agency Liability

Hoggard, N.

Abstract

Regulation (EU) 462/2013 imposes civil liability upon credit rating agencies for causing loss to investors by virtue of intentional or grossly negligent infringement of certain regulatory requirements. This article argues that this regulation does nothing more than replicate the UK’s existing law on deceit, albeit that it is (inexplicably) more restrictive for claimants. Further, it considers the potential harm to taxonomy and—by extension—to the rule of law caused by such legal duplication when resorting to very specific harmonisation measures.

Citation

Hoggard, N. (2016). What a Tangled Web We Weave: Conflicts in Rating Agency Liability. Cambridge journal of international and comparative law, 5(2), 363-377. https://doi.org/10.7574/cjicl.05.02.363

• Journal Article Type: Article
• Acceptance Date: Dec 16, 2015
• Publication Date: Jan 1, 2016
• Deposit Date: Mar 14, 2017
• Publicly Available Date: Mar 15, 2017
• Journal: Cambridge Journal of International and Comparative Law
• Print ISSN: 2050-1706
• Electronic ISSN: 2050-1714
• Publisher: Cambridge University Press
• Peer Reviewed: Peer Reviewed
• Volume: 5
• Issue: 2
• Pages: 363-377
• DOI: https://doi.org/10.7574/cjicl.05.02.363
• Public URL: https://durham-repository.worktribe.com/output/1383066
• Publisher URL: http://cilj.co.uk/wp-content/uploads/2016/11/Volume-52.pdf