Press Release: Credit rating agencies: Commission adopts Regulatory Technical Standards to implement stricter new rules

The European Commission adopted on the 30 September 2014 three Regulatory Technical Standards (RTS) needed to implement key provisions of the Regulation on Credit Rating Agencies. These RTS set out:

+ the disclosure requirements for issuers, originators and sponsors on structured finance instruments;

+ reporting requirements to credit rating agencies (CRAs) for the European Rating Platform; and

+ reporting requirements for CRAs on fees for the purpose of ongoing supervision by the European Securities and Markets Authority (ESMA).

These RTS were developed by ESMA, drawing on its experiences as single supervisor for CRAs and taking into account the results of the stakeholder consultations. They have now been endorsed by the European Commission.

ESO: Background information: Stricter rules for credit rating agencies to enter into force http://www.europeansources.info/record/press-release-stricter-rules-for-credit-rating-agencies-to-enter-into-force/

---