Regulatory Alerts2014-06-24
Final Report on Draft Regulatory Technical Standards under the CRA3 Regulation
ESMA issued this final report submitting three draft Regulatory Technical Standards to the European Commission to implement the CRA3 Regulation. The standards mandate standardized disclosure of information for structured finance instruments, establish the European Rating Platform for public rating data, and require periodic reporting of fees charged by credit rating agencies. These measures aim to enhance market transparency, reduce investor over-reliance on external ratings, and facilitate ESMA's supervisory oversight of CRA practices.
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