MEPs adopted the new rules aimed at regulate when and how credit rating agencies may rate state debts and private firms' financial health. According to MEPs, agencies' shareholdings in rated firms will be capped, to reduce conflicts of interest.

The European Parliament adopted in plenary session the new rules that will allow agencies to issue unsolicited sovereign debt ratings only on set dates, and enable private investors to sue them for negligence. The rules have already been provisionally agreed with the Council. The Parliament and the Council reached an agreement on proposals amending the EU's rules on credit rating agencies in December 2012.

MEPs also ensured that the ratings are clearer by requiring agencies to explain the key factors underlying them. They also stressed that ratings must not seek to influence state policies, and agencies themselves must not advocate any policy changes. In addition, MEPs urge credit institutions and investment firms to develop their own rating capacities, to enable them to prepare their own risk assessments in order to reduce over-reliance on ratings.

A credit rating agency will have to refrain from issuing ratings, or disclose that its ratings may be affected, if a shareholder or member holding 10% of the voting rights in that agency has invested in the rated entity. The new rules will also bar anyone from simultaneously holding stakes of more than 5% in more than one credit rating agency, unless the agencies concerned belong to the same group.