More NewsESMA Approves Poland’s EuroRating as a CRA

ESMA Approves Poland’s EuroRating as a CRA

The European Securities and Markets Authority (ESMA) has approved the registration of EuroRating, based in Poland, as a credit rating agency (CRA) under Article 16 of the CRA Regulation. The registration takes effect from 7 May 2014.

EuroRating’s registration as a CRA means that its credit ratings can be used for regulatory purposes under EU legislation.

A registered CRA must continue to comply, on an ongoing basis, with the regulatory requirements set out under the CRA Regulation.

ESMA is now responsible for supervising a total of 23 registered and two certified CRAs in the EU. Amongst the 23 registered CRAs, three operate under a group structure, totalling 16 legal entities in the EU, which means that the total number of CRA entities registered in the EU is now 36.

ESMA’s supervisory mandate applies to all CRAs established in the EU which issue credit ratings that are disclosed publicly or distributed by subscription. The exercise of that supervision includes the possibility to impose sanctions, including penalties, in case of breaches of the requirements established by the Regulation. Those requirements include the obligation to be registered by ESMA before engaging in rating activities.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

2m The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

5m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

6m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

6m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

6m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

6m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

6m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

7m Tasja Botha