Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes

Published date: 30 May 2012

Commission Delegated Regulation (EU) No 449/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on information for registration and certification of credit rating agencies (Assimilated Law)

	Recitals
	Chapter 1 Subject matter (art. 1)
	Article 1 Subject matter
	Chapter 2 Registration (arts. 2-25)
	Section 1 General (arts. 2-7)
	Article 2 Format of the application
	Article 3 Attestation of the accuracy and completeness of the application
	Article 4 Number of employees
	Article 5 Class of credit ratings
	Article 6 Policies and procedures
	Article 7 Identification, legal status and class of credit ratings
	Section 2 Ownership structure (arts. 8-9)
	Article 8 Owners and parent undertaking of a credit rating agency
	Article 9 Ownership chart
	Section 3 Organisational structure and corporate governance (arts. 10-12)
	Article 10 Organisational chart
	Article 11 Organisational structure
	Article 12 Corporate governance
	Section 4 Financial resources for the performance of credit rating activities (art. 13)
	Article 13 Financial reports
	Section 5 Staffing and compensation (arts. 14-15)
	Article 14 Staffing policies and procedures
	Article 15 Fitness and appropriateness
	Section 6 Issuance and review of credit ratings (arts. 16-18)
	Article 16 Development, validation, review and disclosure of rating methodologies
	Article 17 Issuance of credit ratings
	Article 18 Monitoring of credit ratings
	Section 7 Description of issue and review procedures and methodologies (art. 19)
	Article 19 Credit rating presentation requirements
	Section 8 Conflicts of interest (arts. 20-22)
	Article 20 Independence and avoidance of conflicts of interest
	Article 21 Inventory of conflicts of interest
	Article 22 Conflicts of interest with respect to ancillary services
	Section 9 Programme of operations (art. 23)
	Article 23 Information regarding the programme of operations
	Section 10 Use of endorsement (art. 24)
	Article 24 Expected use of endorsement
	Section 11 Outsourcing (art. 25)
	Article 25 Outsourcing requirements
	Chapter 3 Certification (arts. 26-28)
	Section 1 Application for certification (arts. 26-27)
	Article 26 Information for application for certification
	Article 27 General requirements for the application for certification
	Section 2 Systemic importance (art. 28)
	Article 28 Systemic importance
	Chapter 4 Final Provisions (art. 29)
	Article 29 Entry into force
	Annex I Document References
	Annex II General Information
	Annex III Information to be Presented with Regard to the Ownership Structure
	Annex IV Organisational Structure
	Annex V Information to be Presented with Regard to Corporate Governance
	Annex VI Self declaration
	Annex VII Issuance and review of credit ratings
	Annex VIII Independence and avoidance of Conflicts of Interest
	Annex IX Programme of Operations
	Annex X Record Keeping, Business Continuity Planning and Information Systems
	Annex XI Use of Endorsement
	Annex XII Systemic Importance Indicators
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