AVIVA Advertisement AVIVA

ESMA approves EuroRating as a credit rating agency

The European Securities and Markets Authority (ESMA) has approved the registration of EuroRating Sp. z o.o., based in Poland, as a credit rating agency (CRA) under Article 16 of the CRA Regulation. The registration takes effect from 7 May 2014.

EuroRating’s registration as a CRA means that its credit ratings can be used for regulatory purposes under EU legislation.

A registered CRA must continue to comply, on an ongoing basis, with the regulatory requirements set out under the CRA Regulation.

There are now 23 registered and two certified CRAs in the EU. Amongst the 23 registered CRAs, three operate under a group structure, totalling 16 legal entities in the EU, which means that the total number of CRA entities registered in the EU is now 36.

ESMA’s supervisory mandate applies to all credit rating agencies established in the EU which issue credit ratings that are disclosed publicly or distributed by subscription. The exercise of that supervision includes the possibility to impose sanctions, including penalties, in case of breaches of the requirements established by the Regulation. Those requirements include the obligation to be registered by ESMA before engaging in rating activities.

Next Finance , May 2014

Share
Send by email Email
Viadeo Viadeo

Focus

Regulation Regulatory prospects: 2012 and beyond

2009 was a year of intense reflection on the functioning of the financial sector. There followed an intense regulatory activity in 2010, unfortunately with few formal adoptions of regulations. 2011 marked the surge of the will to succeed with provisional schedules. Where do (...)

© Next Finance 2006 - 2017 - All rights reserved