17 Juin 2013

ESMA clarifies boundary of CRA Regulation : Guidelines and Recommendations on the Scope of the CRA Regulation

Le 17 juin 2013

ESMA clarifies boundary of CRA Regulation
 



The European Securities and Markets Authority (ESMA) has published its Guidelines and Recommendations on the Scope of the CRA Regulation. The Guidelines clarify certain aspects of the scope of the Credit Rating Agencies (CRA) Regulation for registered CRAs, market participants operating on the perimeter of this sector and national securities markets regulators.



The Guidelines focus on a number of areas under the CRA Regulation, which ESMA believes require clarification following its experience of assessing applicants in the registration process and its enforcement of the perimeter under the EU supervisory regime. The areas include enforcement, rating activities, exemptions, branches of registered CRAs outside the EU, and disclosure recommendations.


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