The Regulation of Credit Rating Agencies in New Zealand from a Pubic Law Perspective: A Necessity to Step in to Regulate?

Abstract

This paper critically analyses a potential regulation of Credit Rating Agencies in New Zealand - in light of the financial crisis - from a public law perspective. The main focus of this research is on the question, whether indeed a comprehensive regulation is indicated, or alternatively, whether the power of the markets is able to cope efficiently and sufficiently with the inherent issues of providing credit ratings; in other words, this paper deals with the clash of regulation v self-regulation.