Regulatory Alerts2011-12-22
Final report on regulatory technical standards for credit rating agency registration and certification
The European Securities and Markets Authority (ESMA) issued final regulatory technical standards specifying the information credit rating agencies must provide during registration and certification applications. These standards supersede previous guidance by clarifying requirements for senior management suitability, outsourcing agreements, and ownership structures while removing unnecessary financial projections. The rules apply only to new applicants and aim to streamline the assessment process without imposing retrospective obligations on existing registered agencies.
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