Retained EU Law SI 2012/449 United Kingdom

Commission Delegated Regulation (EU) No 449/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on information for registration and certification of credit rating agencies (Text with EEA relevance)

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Financial Services Firm27

Other Acts binding the same actors

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Financial Services Firm — also bound by 167 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

uri:annex/iv/division/organisational/division/2 uri:annex/iv/division/organisational/division/2 Regulated
  • Include organisational details in credit rating agency registration applicationFinancial Services Firm
uri:annex/ix/division/programme/division/3/division/4 uri:annex/ix/division/programme/division/3/division/4 Regulated
  • Separate rating and ancillary service revenues in revenue projectionsFinancial Services Firm
uri:annex/vii/division/issuance/division/1 uri:annex/vii/division/issuance/division/1 Regulated
  • Document rating methodology development, validation, and review processesFinancial Services Firm
s.art002 Format of the application Regulated
  • Submit your CRA registration application in a durable format with clear document referencesFinancial Services Firm
s.art003 Attestation of the accuracy and completeness of the application Regulated
  • Include signed attestation of accuracy with ESMA registration submissionsFinancial Services Firm
s.art007 Identification, legal status and class of credit ratings Regulated
  • Provide registration and status documents to ESMAFinancial Services Firm
s.art008 Owners and parent undertaking of a credit rating agency Regulated
  • Tell ESMA about majority owners and parent companiesFinancial Services Firm
s.art009 Ownership chart Regulated
  • Provide ESMA with an ownership chart of your corporate groupFinancial Services Firm
s.art010 Organisational chart Regulated
  • Provide ESMA with an organisational chart showing your structureFinancial Services Firm
s.art011 Organisational structure Regulated
  • Provide ESMA with information on compliance and review policies and proceduresFinancial Services Firm
s.art012 Corporate governance Regulated
  • Provide ESMA with corporate governance informationFinancial Services Firm
s.art013 Financial reports Regulated
  • Provide ESMA with financial reports and accounting proceduresFinancial Services Firm
s.art014 Staffing policies and procedures Regulated
  • Provide ESMA with information on staffing policies and proceduresFinancial Services Firm
s.art015 Fitness and appropriateness Regulated
  • Provide CVs, criminal records and good-repute declarations for key personnel to ESMAFinancial Services Firm
s.art016 Development, validation, review and disclosure of rating methodologies Regulated
  • Provide ESMA with descriptions and methodology policies for credit ratingsFinancial Services Firm
s.art017 Issuance of credit ratings Regulated
  • Provide ESMA with detailed information on credit rating processesFinancial Services Firm
s.art018 Monitoring of credit ratings Regulated
  • Provide ESMA with information on rating monitoring policies and proceduresFinancial Services Firm
s.art019 Credit rating presentation requirements Regulated
  • Provide ESMA with disclosure policies, procedures and sample reportsFinancial Services Firm
s.art020 Independence and avoidance of conflicts of interest Regulated
  • Provide ESMA with information on conflicts of interest policies and independence safeguardsFinancial Services Firm
s.art021 Inventory of conflicts of interest Regulated
  • Provide ESMA with an up-to-date inventory of conflicts of interestFinancial Services Firm
s.art022 Conflicts of interest with respect to ancillary services Regulated
  • Tell ESMA about shared resources and conflicts with your rating and ancillary servicesFinancial Services Firm
s.art023 Information regarding the programme of operations Regulated
  • Provide ESMA with an annual three-year operations programmeFinancial Services Firm
s.art024 Expected use of endorsement Regulated
  • Provide information to ESMA when endorsing third-country credit ratingsFinancial Services Firm
s.art025 Outsourcing requirements Regulated
  • Provide ESMA with outsourcing information when contracting out important functionsFinancial Services Firm
s.art026 Information for application for certification Regulated
  • Provide required information to ESMA when applying for certificationFinancial Services Firm
s.art027 General requirements for the application for certification Regulated
  • Ensure your application for certification complies with format and content requirementsFinancial Services Firm
s.art028 Systemic importance Regulated
  • Provide systemic importance information on credit ratings to ESMAFinancial Services Firm
13 other provisions — procedural and definitional
uri:annex/ii/division/general/division/13 uri:annex/ii/division/general/division/13
uri:annex/iv/division/organisational/division/1 uri:annex/iv/division/organisational/division/1
uri:annex/iv/division/organisational/division/3 uri:annex/iv/division/organisational/division/3
uri:annex/iv/division/organisational/division/4 uri:annex/iv/division/organisational/division/4
uri:annex/ix/division/programme/division/5 uri:annex/ix/division/programme/division/5
uri:annex/v/division/information/division/3 uri:annex/v/division/information/division/3
uri:annex/xii/division/systemic/division/1 uri:annex/xii/division/systemic/division/1
uri:annex/xii/division/systemic/division/2 uri:annex/xii/division/systemic/division/2
s.art001 Subject matter
s.art004 Number of employees
s.art005 Class of credit ratings
s.art006 Policies and procedures
s.art029 Entry into force

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.