Regulators have implemented credit rating agency reforms which included numerous provisions aimed at enhancing oversight and accountability. This survey polls CFA Institute members’ opinions on credit rating agencies’ performance and accountability.
On 20 May 2014, 20,379 CFA Institute members with a primary investment practice of Fixed Income were invited via email to participate in an online survey. The survey closed on 27 May 2014. 398 valid responses were received, for a response rate of 2% and a margin of error of ± 4.6%.
67% of members agree that investors have become more cautious regarding the use of CRAs in their investment processes. Only 27% agree regulatory protections have ensured greater transparency of CRA processes.