论我国信用评级机构的监管完善——兼评美国信用评级危机

发布时间：2018-12-15 18:03

【摘要】：经过近三十年的发展,我国信用评级行业取得了突出成绩,评级机构监管法律框架也已初步建立。根据相关法律规定,人民银行、证监会和银监会等监管机构均承担相应的监管职能。次贷危机充分暴露了美国信用评级机构监管过程中存在的突出问题。首先,信用评级行业的传统商业模式存在问题,即发行人付费在相当程度上损害了评级应有的客观性、公正性和科学性;其次,评级行业缺乏充分的市场竞争,极大地降低了评级品质;再次,由于金融监管严重依赖评级,导致在强化评级机构地位的同时,忽视了评级品质的维持和提高;最后,评级机构的法律责任缺失严重损害了投资者的合法权益。美国信用评级机构监管存在的问题值得警醒,我国在未来的评级监管过程中,应该特别注意以下几点:首先是要完善相关立法,明确信用评级在金融监管中的作用;其次是完善信用评级机构的商业模式,突出信息披露;再次是促进信用评级机构适度竞争;最后是合理设计评级机构应该承担的法律责任。
[Abstract]:After nearly 30 years of development, China's credit rating industry has made outstanding achievements, and the regulatory framework of rating agencies has been preliminarily established. According to the relevant laws, the people's Bank of China, Securities Regulatory Commission and Banking Regulatory Commission and other regulatory bodies are responsible for the corresponding regulatory functions. The subprime mortgage crisis has fully exposed the outstanding problems existing in the supervision process of the credit rating agencies in the United States. First of all, there are problems in the traditional business model of credit rating industry, that is, the issuer's payment damages the objectivity, impartiality and science of rating to a certain extent; Secondly, the rating industry lacks sufficient market competition, which greatly reduces the rating quality; thirdly, the financial supervision relies heavily on the rating, which leads to the neglect of the maintenance and improvement of the rating quality while strengthening the status of the rating agency. Finally, the lack of legal liability of rating agencies seriously damaged the legitimate rights and interests of investors. In the future, China should pay special attention to the following points: first of all, it is necessary to perfect the relevant legislation and clarify the role of credit rating in financial supervision; The second is to perfect the business model of credit rating agencies to highlight the disclosure of information; thirdly, to promote the appropriate competition of credit rating agencies; finally, to design the legal responsibility of rating agencies.
【作者单位】：大庆师范学院法学院;厦门大学法学院;
【基金】：黑龙江省哲社青年项目“倍增计划下国家、企业与个人之间收入分配的效率与公平问题研究——基于法金融学的视角”(13C001)
【分类号】：D922.28

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