Today the International Organization of Securities Commission (IOSCO) is publishing its Code of Conduct Fundamentals for Credit Rating Agencies (CRAs). The IOSCO CRA Code Fundamentals follows an extensive consultation process involving rating agencies, issuers, investors, academics and financial institutions. It represents a global, converged view of specific mechanisms CRAs can use to protect their analytical independence, eliminate or manage conflicts of interest, and help ensure the confidentiality of certain types of information shared with them by issuers. IOSCO expects the Code Fundamentals will receive the full support of CRAs and market participants around the world and will strengthen investor and market confidence in the rating process.