Regulation 1060/2009/EC - Credit Rating Agencies Regulation - CRAR (Assimilated Law)

To be revoked by virtue of Sch. 1 Pt 1 to the Financial Services and Markets Act 2023 (c. 29) (FSMA 2023), Sch. 1 Pt 1 not yet fully commenced.

Comparing proposed amendment...


	Recitals
	Title I Subject Matter, Scope and Definitions (arts. 1-5c)
In force	Article 1 Subject matter
In force	Article 2 Scope
In force	Article 3 Definitions
In force	Article 4 Use of credit ratings
In force	Article 5 Equivalence and certification based on equivalence
In force	Article 5a Over-reliance on credit ratings by financial institutions
Omitted	Article 5b Reliance on credit ratings by the European Supervisory Authorities and the European Systemic Risk Board
In force	Article 5c Over-reliance on credit ratings in Union law
	Title II Issuing of Credit Ratings (arts. 6-13)
In force	Article 6 Independence and avoidance of conflicts of interest
In force	Article 6a Conflicts of interest concerning investments in credit rating agencies
In force	Article 6b Maximum duration of the contractual relationship with a credit rating agency
In force	Article 7 Rating analysts, employees and other persons involved in the issuing of credit ratings
In force	Article 8 Methodologies, models and key rating assumptions
In force	Article 8a Sovereign ratings
Deleted	Article 8b Information on structured finance instruments
In force	Article 8c Double credit rating of securitisation instruments
In force	Article 8d Use of multiple credit rating agencies
In force	Article 9 Outsourcing
In force	Article 10 Disclosure and presentation of credit ratings
In force	Article 11 General and periodic disclosures
In force	Article 11a Public rating database
In force	Article 12 Transparency report
In force	Article 13 Public disclosure fees
	Title III Surveillance of Credit Rating Activities (arts. 14-35)
	Chapter I Registration procedure (arts. 14-20)
In force	Article 14 Requirement for registration
In force	Article 15 Application for registration
In force	Article 16 Examination of the application for registration of a credit rating agency by the FCA
In force	Article 17 Examination of the applications for registration of a group of credit rating agencies by the FCA
In force	Article 18 Notification of decisions
In force	Article 18A Upper Tribunal
Omitted	Article 19 Registration and supervisory fees
In force	Article 20 Withdrawal of registration
	Chapter II Supervision by the FCA (arts. 21-25a)
In force	Article 21 The FCA
Omitted	Article 22 Competent authorities
In force	Article 22a Examination of compliance with methodology requirements
In force	Article 23 Non-interference with content of ratings or methodologies
Omitted	Article 23a Exercise of the powers referred to in Articles 23b to 23d
Omitted	Article 23b Requests for information
Omitted	Article 23c General investigations
Omitted	Article 23d On-site inspections
Omitted	Article 23e Procedural rules for taking supervisory measures and imposing fines
In force	Article 24 Supervisory measures
Omitted	Article 25 Hearing of the persons concerned
Omitted	Article 25a Sectoral competent authorities responsible for the supervision and enforcement of Article 4(1) and Articles 5a, 8c and 8d
	Chapter III Professional secrecy (ss. 26-33)
Omitted	Article 26 Obligation to cooperate
Omitted	Article 27 Exchange of information
Deleted	Article 28 Cooperation in case of a request with regard to on-site inspections or investigations
Deleted	Article 29 Colleges of competent authorities
Omitted	Article 30 Delegation of tasks by ESMA to competent authorities
Omitted	Article 31 Notifications and suspension requests by competent authorities
Omitted	Article 32 Professional secrecy
Deleted	Article 33 Disclosure of information from another Member State
	Chapter IV Cooperation with third countries (arts. 34-35)
In force	Article 34 Agreement on exchange of information
In force	Article 35 Disclosure of information from third countries
	Title IIIA Civil liability of credit rating agencies (art. 35a)
In force	Article 35a Civil liability
	Title IV Amendment to Annexes (art. 37)
	Chapter I Penalties, committee procedure and reporting (arts. 36-39b)
Omitted	Article 36 Penalties
Omitted	Article 36a Fines
Omitted	Article 36b Periodic penalty payments
Omitted	Article 36c Hearing of the persons subject to the proceedings
Omitted	Article 36d Disclosure, nature, enforcement and allocation of fines and periodic penalty payments
Omitted	Article 36e Review by the Court of Justice of the European Union
In force	Article 37 Amendments to Annexes
In force	Article 38 Treasury Regulations
Omitted	Article 38a Exercise of the delegation
Omitted	Article 38b Revocation of the delegation
Omitted	Article 38c Objections to delegated acts
Omitted	Article 39 Reports
Omitted	Article 39a ESMA's staffing and resources
Omitted	Article 39b Reporting obligations
	Chapter II Transitional and final provisions (arts. 40-41)
Omitted	Article 40 Transitional provision
Omitted	Article 40a Transitional measures related to ESMA
Omitted	Article 41 Entry into force
	Annex I Independence and Avoidance of Conflicts of Interest
In force	Annex I, Section A Organisational requirements
In force	Annex I, Section B Operational requirements
In force	Annex I, Section C Rules on rating analysts and other persons directly involved in credit rating activities
In force	Annex I, Section D Rules on the presentation of credit ratings and rating outlooks
In force	Annex I, Section E Disclosures
In force	Annex II Information to be Provided in the Application for Registration
In force	Annex III
Omitted	Annex IV List of the coefficients linked to aggravating and mitigating factors for the application of Article 36a(3)
	Done at

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