Regulatory Alerts2025-10-15
Final Report on Supervisory Expectations for the Management Body
ESMA issued this Final Report to establish consistent supervisory expectations for the governance arrangements of its supervised entities, including credit rating agencies and trade repositories. The document transforms previous prescriptive guidance into 12 high-level principles to ensure proportionate application based on entity size and complexity while maintaining a level playing field. These expectations define the management body's roles, responsibilities, and operational standards to enhance oversight effectiveness and transparency.
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