Credit Rating Agencies (CRA)

Topics in this issue:

European Council updates MiFID II and MiFIR compromise texts

ESMA 2013 regulatory work programme

FCA occasional papers on how people make financial decisions

FSB peer review of its Principles for Reducing Reliance on CRA Ratings

Progress report on implementation of Basel regulatory framework

The ESMA has formally approved the certification in the European Union of Kroll Bond Rating Agency Inc. under Article 16 of the CRA Regulation...

Memorandum of Understanding on the cooperation of the Dubai Financial Services Authority and ESMA for the supervision of Credit Rating Agencies; 19 February 2013...

The ESMA is publishing its 2013 CRA Supervisory and Policy Work Plan with the aim of enhancing the transparency of its actions regarding credit rating agencies in the European Union...

In 2013, the Joint Committee will give high priority to the areas of consumer protection and risk analysis. The Joint Committee will also pursue the regulatory work initiated in 2012 in key areas such as Financial Conglomerates, Anti-Money Laundering and Credit Ratings, and will give more visibility to its work to external stakeholders...

A credit rating is an opinion issued by a specialised firm on the creditworthiness of an entity or a debt instrument. This opinion is based on research activity and presented according to a ranking system...

Topics in this issue:

Council defines Iran measures

Parliament calls for electrified ring-fence

FSA updates on PRA transition

Up next from FSA

This Final Report results from a review by the International Organization of Securities Commissions’ Committee 6 on Credit Rating Agencies (C6), previously known as Standing Committee 6 (SC6), that focused on internal controls established by credit rating agencies (CRAs) to promote the integrity of the credit rating process and on procedures established by CRAs to manage conflicts of interest...

The ESMA has launched a Consultation Paper on Guidelines and Recommendations on the scope of the CRA Regulation. The draft Guidelines aim to provide clarification on certain aspects of the scope of the Credit Rating Agencies Regulation to registered CRAs, other market participants operating on the perimeter of this sector and to national securities markets regulators...

Welcome to the first Edition of new Structured Capital Markets Briefing...

Topics in this issue:

EBA publishes management suitability guidelines

Scottish authorities publish bribery self-reporting guidance

Treasury consults on LIBOR amendments

FSA updates on asset manager conflicts

EBF calls for one-year delay to CRD4 implementation

The Australian Federal Court has delivered a landmark first instance judgment which holds a credit rating agency liable for the first time for the negligent AAA rating of a structured financial product...

Commission Delegated Regulation (EU) No 946/2012 of 12 July 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to rules of procedure on fines imposed to credit rating agencies by the European Securities and Markets Authority, including rules on the right of defence and temporal provisions...

Speech by Steven Maijoor, ESMA Chair, at the BVI Asset Management Conference in Frankfurt on 9 October 2012...

Commission Implementing Decision 2012/628/EU of 5 October 2012 on the recognition of the legal and supervisory framework of the United States of America as equivalent to the requirements of Regulation (EC) No 1060/2009 of the European Parliament and of the Council on credit rating agencies...

The ESMA has formally approved the registration of Axesor S.A., based in Spain, as a credit rating agency under Article 16 of the CRA Regulation (Regulation (EC) No 1060/2009). The registration takes effect from 1 October 2012...

Topics in this issue:

Commission brings rate-fixing within MAD 2 proposals

Parliament updates on FS Bill stages

Lords consults on UK impact of EU Banking Union

DBIS publishes Kay review

Government consults on payments strategy-setting

The report provides an overview of the first year of ESMA’s operations as an independent European Supervisory Authority, focusing on its tasks and achievements. In addition it also sets out the Work Programme for 2012...

Opinion 2012/C 181/13 of the European Economic and Social Committee on the ‘Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EC) No 1060/2009 on credit rating agencies’ COM(2011) 747 final - 2011/0361 (COD)...

Opinion 2012/C 167/03 of the European Central Bank of 2 April 2012 on a proposal for a regulation amending Regulation (EC) No 1060/2009 on credit rating agencies and a proposal for a directive amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings of collective investment in transferable securities (UCITS) and Directive 2011/61/EU on alternative investment funds managers in respect of the excessive reliance on credit ratings...

This Regulation supplements Regulation (EC) No 1060/2009 of the European Parliament and of the Council on credit rating agencies by laying down regulatory technical standards for the assessment of compliance of credit rating methodologies...

This Regulation supplements Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on information for registration and certification of credit rating agencies...

During its 37th Annual Conference in Beijing, IOSCO further progressed its contribution to the international regulatory reform agenda...

Opinion 2012/C 139/02 of the European Data Protection Supervisor on the Commission proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 1060/2009 on credit rating agencies...