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Section: General News - European Union (EU) governments and the European Parliament agreed to a preliminary deal on Wednesday (April 15, 2009) to tighten supervision of credit rating agencies.
The draft deal will introduce a registration procedure for credit rating agencies to enable European supervisors to control the activities of rating agencies.
Credit rating agencies, such as Standard & Poor's, Moody's Investors Service and Fitch Ratings, will have to comply with rigorous rules to make sure that their ratings are not affected by conflicts of interest and they act in a transparent manner.
The Committee of European Securities Regulators (CESR), a …