1. Credit rating agencies registered or certified on or before IP completion day shall prepare a first report to be reported to the FCA on IP completion day or on such later day as notified by the FCA, that shall contain information on all credit ratings and rating outlooks referred to in Articles 8 and 9, and that have been issued and not withdrawn by IP completion day.

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3. Credit rating agencies registered or certified after IP completion day shall comply with this Regulation within three months after the date of registration or certification. In their first report, they shall report, in accordance with Articles 8 and 9, all the credit ratings and rating outlooks that were issued from the date of registration or certification.