File Download
There are no files associated with this item.
Supplementary
-
Citations:
- Appears in Collections:
Article: Credit Ratings: The Moody's Case
Title | Credit Ratings: The Moody's Case |
---|---|
Authors | |
Keywords | Credit rating regulation Hong Kong Moody's SFAT Securities and Futures Appeals Tribunal SFC Securities and Futures Commission |
Issue Date | 2017 |
Publisher | Sweet & Maxwell Asia. The Journal's web site is located at http://www.hku.hk/law/hklj/ |
Citation | Hong Kong Law Journal, 2017, v. 47 n. 1, p. 193-219 How to Cite? |
Abstract | In Moody’s Investors Service Hong Kong Ltd v Securities and Futures Commission, the Securities and Futures Appeals Tribunal was required to determine whether a report issued by Moody’s fell within the scope of Hong Kong’s statutorily defined credit rating regime. The Tribunal determined that the report was either itself a credit rating or part and parcel of Moody’s credit rating services. This article analyses the Tribunal’s determination and concludes that it is flawed primarily as a result of concerns over its application of the purposive construction of statutory provisions and a failure to closely analyse the statutorily defined term “credit rating”. It is suggested that the determination gives rise to problematic consequences including blurring the regulatory perimeter of what constitutes a credit rating and providing credit rating services. |
Persistent Identifier | http://hdl.handle.net/10722/242080 |
ISSN | 2023 Impact Factor: 0.3 2020 SCImago Journal Rankings: 0.112 |
SSRN |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Johnstone, S | - |
dc.date.accessioned | 2017-07-21T08:03:43Z | - |
dc.date.available | 2017-07-21T08:03:43Z | - |
dc.date.issued | 2017 | - |
dc.identifier.citation | Hong Kong Law Journal, 2017, v. 47 n. 1, p. 193-219 | - |
dc.identifier.issn | 0378-0600 | - |
dc.identifier.uri | http://hdl.handle.net/10722/242080 | - |
dc.description.abstract | In Moody’s Investors Service Hong Kong Ltd v Securities and Futures Commission, the Securities and Futures Appeals Tribunal was required to determine whether a report issued by Moody’s fell within the scope of Hong Kong’s statutorily defined credit rating regime. The Tribunal determined that the report was either itself a credit rating or part and parcel of Moody’s credit rating services. This article analyses the Tribunal’s determination and concludes that it is flawed primarily as a result of concerns over its application of the purposive construction of statutory provisions and a failure to closely analyse the statutorily defined term “credit rating”. It is suggested that the determination gives rise to problematic consequences including blurring the regulatory perimeter of what constitutes a credit rating and providing credit rating services. | - |
dc.language | eng | - |
dc.publisher | Sweet & Maxwell Asia. The Journal's web site is located at http://www.hku.hk/law/hklj/ | - |
dc.relation.ispartof | Hong Kong Law Journal | - |
dc.subject | Credit rating regulation | - |
dc.subject | Hong Kong | - |
dc.subject | Moody's | - |
dc.subject | SFAT | - |
dc.subject | Securities and Futures Appeals Tribunal | - |
dc.subject | SFC | - |
dc.subject | Securities and Futures Commission | - |
dc.title | Credit Ratings: The Moody's Case | - |
dc.type | Article | - |
dc.identifier.volume | 47 | - |
dc.identifier.issue | 1 | - |
dc.identifier.spage | 193 | - |
dc.identifier.epage | 219 | - |
dc.publisher.place | Hong Kong | - |
dc.identifier.ssrn | 2970470 | - |
dc.identifier.hkulrp | 2017/009 | - |
dc.identifier.issnl | 0378-0600 | - |