1. A credit rating agency shall provide the FCA with information regarding the following policies and procedures:

(a) reporting to the compliance officer of any situations where one of the persons referred to in point 1 of Section C of Annex I to Regulation (EC) No 1060/2009 considers that any other such person has engaged in conduct that he or she considers illegal, pursuant to the provisions of point 5 of Section C of Annex I to Regulation (EC) No 1060/2009;

(b) the rotation of lead rating analysts, rating analysts and persons approving credit rating;

(c) the compensation and performance evaluation practices for rating analysts, persons approving credit ratings, senior management and the compliance officer;

(d) the training and development relevant to the rating process, including any examination or other type of formal assessment required for the conduct of rating activities.

2. A credit rating agency shall also provide the FCA with:

(a) a description of the measures in place to mitigate the risk of over-reliance on individual employees;

(b) for each class of credit ratings, information on the size and experience of the quantitative teams responsible for developing and reviewing methodologies and models;