ESMA decided to extend the response date for all ongoing consultations with a closing date on, or after, March 16 by four weeks. The list includes consultations on guidelines for internal controls for credit rating agencies (consultation now closes on April 13, 2020), guidelines on securitization repository data completeness and consistency thresholds (comment period closes on April 13, 2020), and draft regulatory technical standards under the Benchmarks Regulation (consultation now ends on June 08, 2020). The outbreak of the COVID-19 significantly impacted the activities of all market stakeholders imposing a reprioritization of efforts to address the crisis. Therefore, ESMA has found it appropriate to ensure that input to consultation papers is not altered by the ability of stakeholders to provide responses.
Related Link: Press Release
Keywords: Europe, EU, Banking, Securities, Securitization Regulation, Credit Rating Agencies, Internal Controls, Regulatory Technical Standards, Benchmarks Regulation, COVID 19, ESMA
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