Regulation amending Regulation on Credit Rating Agencies
May 11, 2011
The European Parliament and Council have published the Regulation amending Regulation (EC) no. 1060/2009 on Credit Rating Agencies.
The objective of the Regulation is to introduce centralised oversight of credit rating agencies operating in the EU. The European Securities and Markets Authority is to assume general competence in matters relating to the registration and on-going supervision of registered credit rating agencies as well as matters related to ratings issued by rating agencies established in third countries that operate in the EU under the certification or endorsement regimes.