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PhD defence

Credit rating agency liability in Europe

  • D.J. Verheij
Thursday 28 January 2021
Academy Building
Rapenburg 73
2311 GJ Leiden

This event can be followed via this livestream from 16:15 hrs.


  • Prof. M. Haentjens
  • Prof. A.G. Castermans


On Thursday 28 January 2021 at 4.15 pm, Dorine Verheij will defend the thesis titled "Credit Rating Agency Liability in Europe". The credit rating industry called for many debates on its civil liability since the origin of the industry at the beginning of the twentieth century. In 2013, the Union legislature introduced a right to damages, which issuers and investors can directly enforce against credit rating agencies under Article 35a CRA Regulation. This provision has drawn attention because of its remarkable structure: Article 35a CRA Regulation introduced a legal ground for civil liability at the European level, while general tort law has not been harmonised at the European level. The thesis investigates Article 35a CRA Regulation from multiple legal perspectives. Combining EU law, Private International Law and Dutch, French, German and English national private law, this book answers the main question of whether Article 35a CRA Regulation achieves its post-crisis goal of being an adequate right of redress for issuers and investors whilst it has to be interpreted under various systems of national law. In answering this question, the book takes a broader European approach and also rates the usefulness of Article 35a CRA Regulation as a European template for civil liability to be used by the Union legislature.

See here for more information (.pdf)

PhD dissertations

PhD dissertations by Leiden PhD students are available digitally after the defence through the Leiden Repository, that offers free access to these PhD dissertations. Please note that in some cases a dissertation may be under embargo temporarily and access to its full-text version will only be granted later.

Press contact (only for journalists) 

Maarten Muns, Scientific Communications Adviser, Leiden University
+31 71 527 3282

Practical questions:

Pedel's office (+31 71 572 7211) 

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