Rating agencies have become the target of EEC

Rating agencies have come under the scrutiny of the EEC. The European countries agreed to impose more stringent control over rating agencies, with sanctions as stiff as banning offender companies from operating within the European economic space.
Accused of having contributed to the international financial meltdown, these agencies will have to register in Europe in order to be able to operate there. Their operations will be overseen by the European regulatory committee in charge of securities.