News & Analysis as of September 19, 2024

European Union › Credit Rating Agencies

+ Follow

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

EU Publishes New Sustainable Finance Package

A&O Shearman on 7/12/2023

The EU published a new Sustainable finance package 2023 on June 13, 2023. The package includes - - A Proposed Regulation on the transparency and integrity of ESG rating activities, which aims to enhance the quality of ESG...more

AG CJEU addresses data subject rights and automated decision-making by credit rating agencies

A&O Shearman on 3/23/2023

The Advocate General (AG) Pikamäe of the Court of Justice of the European Union (CJEU) issued his opinions in three cases concerning the credit rating agency SCHUFA Holding AG (SCHUFA) on 16 March 2023....more

Brexit and Debt Capital Markets transactions – some practical perspectives

Hogan Lovells on 3/4/2021

Following the end of the Brexit transition period, debt capital markets participants may now need to consider both EU rules and the parallel UK rules for EU and UK transactions, particularly those that are cross-border. ...more

European Securities and Markets Authority Publishes Follow-Up Report on Credit Rating Agency and Trade Repository Fees

A&O Shearman on 1/21/2020

The European Securities and Markets Authority has published a follow-up report on its 2018 Thematic Report on the fees charged by credit rating agencies and trade repositories. ESMA directly supervises all CRAs and trade...more

Third-Country Firms Operating Cross-Border Into the EU - Upcoming Reform

Latham & Watkins LLP on 1/14/2020

Firms outside of Europe should be aware of planned upcoming changes to how they access European markets. Key Points: ..The EU legislators have been reviewing various financial services regimes and developing reforms...more

Regulation Round Up - December 2019

Proskauer Rose LLP on 1/8/2020

2 December - The Financial Conduct Authority ("FCA") updated the following webpages: - webpage on its July 2018 discussion paper on price discrimination in the cash savings market (PD18/6); and - webpage on its...more

Proposed EU Procedural Rules for Penalties Imposed on Third-Country CCPs, Trade Repositories and Credit Rating Agencies

A&O Shearman on 12/31/2019

The European Securities and Markets Authority has launched a consultation on proposed procedural rules for penalties imposed on third-country CCPs, trade repositories and credit rating agencies. Responses are invited by...more

European Supervisory Authorities Publish Joint 2020 Work Programme

A&O Shearman on 10/11/2019

The Joint Committee of the European Supervisory Authorities has published its 2020 work program, outlining revisions to the Joint Committee’s scope of work and the matters it will focus on in 2020. The Joint Committee...more

European Securities and Markets Authority Publishes 2020 Work Priorities

A&O Shearman on 10/11/2019

The European Securities and Markets Authority has published its Annual Work Programme for 2020. The Work Programme sets out ESMA’s focus areas for 2020 and provides details of expected outputs within each of the areas. In...more

EU Credit Rating Equivalence Decisions Repealed for Some; Reaffirmed for Others

A&O Shearman on 8/9/2019

A series of Implementing Decisions on the equivalence with the EU Credit Rating Agencies Regulation of the credit rating regimes of certain non-EU countries have been published in the Official Journal of the European Union....more

Final EU Guidelines on EU Credit Rating Agency Disclosure Obligations and Advice on Sustainable Finance in the Credit Rating...

A&O Shearman on 8/2/2019

The European Securities and Markets Authority has published two documents relating to sustainable finance in the credit rating sector. The first document is technical advice for the European Commission, responding to the...more

ESMA Publishes Consolidated Guidelines on the Application of the Endorsement Regime Under CRA Regulation

Orrick - Finance 20/20 on 5/21/2019

On March 20, the European Securities and Markets Authority (ESMA) published the official translations of its consolidated guidelines on the application of the endorsement regime under Article 4(3) of the Credit Rating...more

Sustainability in EU Capital Markets: New Rules for Fund and Asset Managers Ahead

Jones Day on 2/21/2019

Currently in the European Union, no level playing field exists for asset management and rating agency activities when it comes to ensuring sustainability. The European Securities and Market Authority ("ESMA") is proposing...more

Brexit and Financial Services — UK Equivalence Decisions

Latham & Watkins LLP on 1/22/2019

HM Treasury has published draft legislation that will allow the UK to make timely equivalence decisions in relation to the EU. Key Points: ..Post-Brexit, HM Treasury will take on the role of making equivalence decisions...more

Key Regulatory Topics: 7 - 13 December 2018

A&O Shearman on 12/28/2018

BREXIT - Please see the Consumer/Retail and Markets and Markets Infrastructure section for updates on various draft SIs published this week in anticipation of a hard Brexit and Trade associations' letter on temporary...more

UK Draft Regulations on Credit Ratings in Preparation for Brexit

A&O Shearman on 12/14/2018

HM Treasury has laid before Parliament the draft Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 2019 to onshore the EU Credit Rating Agencies Regulation for Brexit. This follows the publication of related...more

ESMA Publishes Statement on No-Deal Brexit Contingency Plans of CRAs and Trade Repositories

Orrick - Finance 20/20 on 11/15/2018

ESMA published a statement on the contingency plans of credit rating agencies (“CRAs“) and trade repositories (“TRs“) in the context of Brexit (ESMA80-187-149) on November 9....more

EU Consultation on Revised Guidelines on Periodic Reporting by Credit Rating Agencies

A&O Shearman on 8/3/2018

The European Securities and Markets Authority has launched a consultation on proposed revised Guidelines on periodic reporting by credit rating agencies. Under the EU Credit Rating Agencies Regulation, ESMA is responsible for...more

Final EU Guidelines Clarify the Third-Country Endorsement Regime for Credit Ratings

A&O Shearman on 8/2/2018

The European Securities and Markets Authority has published a final report on the application of the endorsement regime under the EU Credit Rating Agencies Regulation. The report contains ESMA's feedback statement for its...more

ESMA Confirms That Canada and South Africa Will Continue to Meet All CRA Regulation (Regulation 1060/2009) Requirements From June...

Orrick - Finance 20/20 on 4/12/2018

The European Securities and Markets Authority (“ESMA“) has on April 4, 2018 published a press release which confirms that Canada and South Africa will continue to meet all requirements for endorsement under Art 4(3) of the...more

EU Authority Seeks to Clarify the Third-Country Endorsement Regime for Credit Ratings

A&O Shearman on 4/11/2018

The European Securities and Markets Authority has opened a consultation on proposed supplementary guidance on the application of the endorsement regime under the EU Credit Rating Agencies Regulation. The CRA Regulation...more

European Securities and Markets Authority Outlines 2018 Work Programme for Credit Rating Agencies, Trade Repositories and...

A&O Shearman on 2/20/2018

The European Securities and Markets Authority has published a document combining its 2017 Annual Report and 2018 Work Programme in relation to Trade Repositories, Credit Rating Agencies and third-country Central...more

European Securities and Markets Authority Has Concerns on Fees Charged by Credit Rating Agencies and Trade Repositories

A&O Shearman on 1/23/2018

The European Securities and Markets Authority has published a Thematic Report, following its supervisory review of the current fee structures in the credit rating and trade repository industries. The CRA Regulation requires...more

European Securities and Markets Authority Consults on Updating the Guidelines on the Credit Rating Agency Endorsement Regime

A&O Shearman on 5/4/2017

The European Securities and Markets Authority has published a consultation paper on updating the Guidelines on the application of the endorsement regime under the Credit Rating Agencies Regulation. Endorsement is a regime...more

European Securities and Markets Authority Promotes Rules Supporting the Use of Smaller Credit Rating Agencies

A&O Shearman on 5/4/2017

The European Securities and Markets Authority has issued a Supervisory Briefing, providing guidance to sectoral national regulators on the application of certain requirements to use smaller credit rating agencies under the...more

39 Results

View per page

Page: of 2

European Union › Credit Rating Agencies

"My best business intelligence, in one easy email…"