|
|
The European Securities and Markets Authority published on 16 July 2014 a Consultation Paper on Guidelines on the information that should be periodically submitted to ESMA by credit rating agencies (CRAs). In this Final Report, ESMA considers the responses received to the consultation paper during Q3 2014 and adopts the final guidelines.
The guidelines are published under Article 16 of Regulation EU No 1095/2010 of the European Parliament and of the Council of 24 November 2010, which enables ESMA to publish guidelines addressed to financial market participants with a view to establishing consistent, efficient and effective supervisory practices.
In light of these Guidelines, CESR’s Guidance on the enforcement practices and activities to be conducted under Article 21.3(a) of the Regulation (ESMA/2010/944) of 30 August 2010 will no longer apply.
These guidelines apply only to registered CRAs, and do not apply to certified CRAs.
Next Steps
Following the translation of the guidelines in Annex 1into all the official languages of the EU, the final texts will be published on ESMA’s website.
The guidelines will become effective two months after their publication on ESMA’s website in all the official languages of the EU.