ESMA - Consultation : ESMA issues first drafts of binding standards for credit rating agencies

ESMA publishes today for consultation its first set of proposed future Regulatory Technical Standards (RTS). The draft RTSs on Credit Rating Agencies (CRAs) details the information that CRAs would have to disclose and the rules they would have to comply with in order to fulfil the requirements of the CRA Regulation. ESMA is seeking stakeholders’ views in respect of specific technical issues specified under Article 21 (4) of the CRA Regulation by October 21, 2011. The potential costs and benefits of the future standards will also be assessed by ESMA.

Press release:
http://www.esma.europa.eu/popup2.php?id=7834

Consultation Documents:
http://www.esma.europa.eu/index.php?page=home_details&id=599