Committee on Credit Rating Agencies (Committee 6) – GFSA

Overview

The GFSA Committee on Credit Rating Agencies (Committee 6) focuses on:

• Developing and monitoring credit rating regulations to ensure transparency and integrity.
• Enhancing oversight of credit rating agencies (CRAs) to improve financial market stability.
• Publishing and updating regulatory frameworks, including the revised Code of Conduct Fundamentals for Credit Rating Agencies.

This committee plays a crucial role in supervising CRAs, maintaining investor confidence, and ensuring that credit ratings are reliable and not manipulated.

Committee 6 Members

Chairperson

• Ms. Elisabeth Van Laere – Head of the CRA Unit, European Securities and Markets Authority, European Union

Committee 6 Members (19)

The following regulatory authorities oversee the supervision of Credit Rating Agencies (CRAs) within the GFSA framework:

• Australian Securities and Investments Commission, Australia

  • Mr. Oliver Harvey, Senior Executive Leader – Market Infrastructure
  • Anna Zajkowski, Senior Analyst – Market Infrastructure
  • Mr. Adam Judd, Senior Manager – Securities Unit, Market Infrastructure

• Comissão de Valores Mobiliários, Brazil

  • Mr. Bruno Gomes, Head of Securitization Department
  • Mr. Daniel Walter Maeda Bernardo, Director of the Office of Institutional Investor Supervision

• China Securities Regulatory Commission, China

  • Mr. Fei Chen, Director General, Department of Corporate Bond Supervision
  • Ms. Jie Jiang, Deputy Director, Department of Corporate Bond Supervision

• European Securities and Markets Authority, European Union

  • Ms. Elisabeth Van Laere, Head of the CRA Unit

• Bundesanstalt für Finanzdienstleistungsaufsicht, Germany

  • Mr. Henning Schultetus, Senior Supervision Officer – Investment Recommendations, Users of Ratings, and CRA Policy

• Securities and Futures Commission, Hong Kong

  • Ms. Irene Tsao, Director, Intermediaries Supervision
  • Mr. Wilson Lo, Senior Director, Head of Licensing

• Securities and Exchange Board of India, India

  • Ms. Harini Balaji, Chief General Manager

• Israel Securities Authority, Israel

  • Mr. Tom Goldreich, Head of Financial Technologies, International Affairs and Markets Development Department

• Financial Services Agency, Japan

  • Mr. Jiro Masuda, Deputy Director for International Affairs Office

• Financial Services Commission / Financial Supervisory Service, Korea, Republic of

  • Mr. Jinhyuk Choi, Lead Manager, Capital Market Infrastructure Team, Capital Market Supervision Department
  • Ms. Yeseom Yu, Associate, Capital Market Infrastructure Team, Capital Market Supervision Department

• Comisión Nacional Bancaria y de Valores, Mexico

  • Mr. Rodrigo Hernández, General Director of Securities Supervision
  • Mr. Otto Torres

• The Dutch Authority for the Financial Markets, The Netherlands

  • Mr. Niels Huijpen

• Ontario Securities Commission, Ontario

  • Mr. Michael Bennett, Senior Legal Counsel, Corporate Finance

• The Bank of Russia, Russia

  • Ms. Zoya Pilipenko

• Comisión Nacional del Mercado de Valores, Spain

  • Maria José Ausejo, Secondary Markets Deputy Director

• Financial Supervisory Commission, Chinese Taipei

  • Ms. Yuan-Ping Tsai, Deputy Director, Corporate Finance Division, Securities and Futures Bureau

• Capital Markets Board, Türkiye

  • Ms. İnci Esen Kılıçkaya, Senior Expert, Department of Accounting and Auditing Standards

• Financial Conduct Authority, United Kingdom

  • Ms. Irene Ho-Moore, Head of CRA Supervision Department

• Securities and Exchange Commission, United States of America

  • David Teicher, Branch Chief, Office of Credit Ratings

Observers (2)

These institutions support the committee’s regulatory oversight and policy development:

• European Commission, European Union

  • Mr. Rogier Wezenbeek, DG FISMA, Unit B4 Audit and Credit Rating Agencies
  • Mr. Santiago Rafael Martinez-Iglesias

• European Securities and Markets Authority, European Union

  • Mr. Eduardo-Javier Moral-Prieto, Senior Policy Officer – Issuers and Investors Department