In addition to global production and trade, much private governance has also applied to transworld finance (Porter and Coleman, 2002). The many relevant sites include the International Chamber of Commerce Commission on Banking Technique and Practice, the World Federation of Exchanges (for securities markets), and the Derivatives Policy Group (with members drawn from major investment banks). Bodies like the International Accounting Standards Board and the International Federation of Accountants have respectively developed the main global accountancy and auditing norms currently in use. Rating agencies like Moody’s and Standard & Poors have also played something of an unofficial policing role in the contemporary global economy, rewarding governments and companies that score well and punishing those that rate poorly (Levich, 2002; Sinclair, 2004).