ESMA - OPINION OF THE EUROPEAN SECURITIES AND MARKETS AUTHORITY

04/10/2021 | ESMA

OPINION OF THE EUROPEAN SECURITIES AND MARKETS AUTHORITY

of 22 September 2021

on improving access to and use of credit ratings in the European Union in accordance with Regulation (EC) No 1060/2009

Having regard to Articles 16a(1) and 44(1) of Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, 1

THE EUROPEAN SECURITIES AND MARKETS AUTHORITY BOARD OF SUPERVISORS HAS ADOPTED THIS OPINION:

1 Introduction and legal basis

1. ESMA’s Board of Supervisors has adopted this Opinion of its own initiative in accordance with Article 16a(1) of Regulation (EU) 1095/2010 to inform the Commission, the European Parliament and the Council of the need to improve access to and use of credit ratings in the European Union (EU) under Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (CRA Regulation). 2

2. As the direct supervisor of credit rating agencies (CRAs) operating in the EU, the CRA Regulation empowers ESMA to register, supervise and take enforcement action to ensure that ‘credit rating activities are conducted in accordance with the principles of integrity, transparency, responsibility and good governance’.3

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