Credit rating agency regulation in the UK If and when article 50 is invoked:Round holes for a square peg?

Abstract

The decision taken by British voters to leave the European Union has created uncertainty in all walks of life, ranging from everyday concerns to professional anxiety. In this article, the focus is on the UK’s regulation of the Credit Rating Industry if and when Article 50 is invoked. The aim of the article is to examine some potential options available to policymakers and legislators in terms of their validity for taking on such an important task. Whilst it is not guaranteed that the UK will take sole responsibility for the regulation of credit rating agencies in its jurisdiction, it is likely. Therefore, assessing the credentials of the relevant agencies is a worthwhile endeavour. Yet, each option comes with its own set of issues, as will be discussed, so the article concludes by offering an option that may negate such issues whilst continuing to regulate the credit rating agencies efficiently and effectively.