ESMA updated questions and answers (Q&As) on the implementation of the regulation on credit rating agencies (CRAs). The CRA Regulation requires a CRA to immediately notify errors in its rating methodologies or in their application to ESMA and all affected rated entities. The updated Q&A document clarifies view of ESMA on what constitutes an error within the meaning of Article 8(7) of CRA Regulation. The purpose of the Q&A is to provide a high level of transparency to entities directly supervised by ESMA regarding ESMA’s supervisory approach.
Keywords: Europe, Securities, CRA Regulation, CRA, Q&A, ESMA
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