Category: Governance
-
Scope Relies on Political Intervention
“Uniper withdraws its 2022 financial outlook amid Russian gas supply restrictions” – That’s the title of an action-free press release from a Berlin rating agency, called Scope Ratings, today: “This monitoring note does not constitute a credit rating action, nor does it indicate the likelihood that Scope will conduct a credit rating action in the…
-
Green Light for Greensill Was Legitimate
A Berlin rating agency remains as a scapegoat Now it is official: In the city of Mohnheim no failure of the administration could be determined before and in the insolvency of Greensill Bank in Bremen. The responsibility is put on the “investment grade” rating, which was issued by a local rating agency in Berlin. In…
-
Scope’s Greensill Bank Rating Tragedy
The Federal Financial Supervisory Authority (BaFin) filed criminal charges Against The Bank’s Board Members. The Federal Financial Supervisory Authority (BaFin) in Germany received monthly reports from Greensill Bank AG (Greensill Bank) about the bank’s balance sheet data from January 2019 on. This is evident from the answer given by Parliamentary State Secretary Sarah Ryglewski on…
-
RAG-Stiftung Must Have Known
Scope Group is not at all related to the transformation of the regions along the Ruhr and Saar Rivers and in Ibbenbüren.
-
When Stocks Are Too Good to Sell – Crossings Can Be Dangerous
Private investor crossings are independent transactions in which an investor enters a buy and a sell order for one and the same security in a timely manner and thus buys the security himself. Such crossings are bogus and prohibited, warns the Austrian Financial Market Authority (FMA). Crossings are a form of market manipulation. Many private…
-
How to Run a Credit Reporting Agency in China
The People’s Bank of China issued a Draft for comments on “Measures for the Administration of Credit Investigation Services“. It is intended to regulate the credit investigation business and related activities, and promote the healthy development of the credit investigation industry. This is formulated in accordance with the “Civil Code of the People’s Republic of…
-
FATF and BaFin Ratings
The European Union (EU) and Financial Action Task Force (FATF) lists countries with deficits in the fight against money laundering, terrorist financing and the financing of proliferation. The lists have far-reaching implications for country ratings and especially for ratings of financial service providers. FATF publishes a consolidated table of assessment ratings. On the basis of…
-
Toward A Reputation State: A Comprehensive View of China’s Social Credit System Project
China’s Social Credit System Project (the “SCSP”) is one of the most misunderstood recent developments in China’s law and policy. In the book “Social Credit Rating“, Xin Dai offers a comprehensive conceptual thesis that explains the SCSP as the Chinese government’s multi-faceted strategy to use reputation in law and governance. The SCSP envisions that reputation…
-
A Study on the Typological Regulation of the Dishonesty Punishment – also on the Rule Design of the Social Credit Law
The punishment of dishonesty is an important content of the credit rule of law, writes Wang Wei in the book “Social Credit Rating“. “The punishment of dishonesty is not a precise legal concept,” he says, “so we must use legal technology to analyze and define it.” In the market punishment, industrial punishment, social punishment, administrative…
-
Separation of Product Comparison, Brokerage and Insurance Services
Any rating company who does not limit itselve to the comparison of financial services, but also insures the customer against risks, must obtain approval for this. There is no free market for financial services in Germany. The Federal Financial Supervisory Authority in Germany, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), ordered the CHECK24 comparison portal CHECK24 Vergleichsportal Finanzen…
-
The Social Credit System and China’s Rule of Law
In 2014, the People’s Republic of China’s (PRC’s) central government formally declared the construction of a Social Credit System (SCS) a national task. Meanwhile, government-designated localities and companies are experimenting with scoring systems for businesses, citizens and the administration. “The government’s initiative introduces mechanisms for a massive aggregation and exchange of data about ‘credit subjects’,…
^^^ RATING EVIDENCE GmbH 