Amending the Regulation on regulatory technical standards for disclosure of information that the credit rating agencies have to submit with the central registry established by ESMA

In The Official Journal of the European Union, Series L 2 from 6 January 2015 was published the Delegated Regulation (EU) 20015/2 of the Commission for supplementing Regulation (EC) no. 1060/2009 of the European Parliament and of the Council with respect to the regulatory technical standards for disclosure of information that the credit rating agencies must submit with the central registry established by the European Securities and Markets Authority.

Regulation subject: the Regulation stipulates that when granting a credit rating or a rating perspective, the registered and certified credit rating agencies have to submit information regarding the rating to the European Securities and Markets Authority (ESMA). Such requirement does not apply to ratings produced exclusively for investors and made available for a fee. Information submitted with the ESMA have to be made available on a public website called “the European rating platform”. Therefore, it was necessary the establishment of rules regarding the content and the manner in which the above mentioned information would be provided.

Thus, the credit rating agencies have to submit all information related to credit ratings and rating perspectives issued or approved in accordance with the Regulation, as well as the ones issued at the level of the entities to which the ratings are granted and issued debt instruments therein, if necessary.

The Regulation shall enter into force on the twentieth day following its publication in the Official Journal of the European Union. It shall apply from 21 June 2015.

:: The source: JURIDICE.ro

Adina Elena OPREA
Junior lawyer

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