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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
18/05/2011 2011/146 Press release- ESMA issues Guidelines on endorsement and clarifies the use for regula-tory purposes of credit ratings issued outside the European Union after 6 June 2011 , Press Release PDF
33.42 KB
06/06/2011 2011/170 Press release- ESMA and the Japanese FSA exchanged letters establishing the cooperation framework between the EU and Japan for credit rating agencies , Press Release PDF
133.72 KB
19/09/2011 2011/306 Press release- ESMA issues first drafts of binding standards for credit rating agencies , Press Release PDF
28.01 KB
31/10/2011 2011/360 Press release- DBRS, Fitch, Moody's, and S&P receive EU registration , Press Release PDF
189.6 KB
21/12/2011 2011/460 Press Release- ESMA extends transitional period for use of non-EU credit ratings, Australian CRA regime endorsed , Press Release PDF
164.63 KB
02/02/2012 2012/64 ESMA makes available data on credit ratings’ past performances- central repository launched Press Release PDF
196.21 KB
ESMA launches today a Central Rating Repository (CEREP) providing information on credit ratings issued by those 15 Credit Rating Agencies (CRAs) which are either registered or certified in the European Union.   The CEREP database will allow investors to assess for the first time on a single platform the performance and reliability of credit ratings on different types of ratings, asset classes and geo-graphical regions over the time period of choice.  To access the database, please click here.
15/03/2012 2012/158 ESMA allows EU-registered CRAs to endorse credit ratings issued in the US, Canada, Hong Kong and Singapore Press Release PDF
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ESMA today announces that it considers the regulatory frameworks for credit rating agencies (CRAs) of the United States of America, Canada, Hong Kong and Singapore to be in line with European rules. The EU Regulation (EC) No 1060/2009 on Credit Rating Agencies1 requires ESMA to assess whether the requirements of third-country CRA regimes are “as stringent as” the European ones. Today’s announcement allows European financial institutions to continue using for regulatory purposes credit ratings issued in these countries after 30 April 2012. ESMA’s assessment of third-country CRA regimes is an important tool for enhancing internationally consistent supervision of CRAs in the interests of protecting financial markets and investors in the EU.
22/03/2012 2012/220 ESMA issues a report on its first examinations of credit rating agencies , Press Release PDF
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ESMA today publishes a report (ESMA/2012/207) on the supervision of Credit Rating Agencies (CRAs) registered in the European Union (EU). The report provides an overview of ESMA’s supervisory activity and summarises the results of the first examinations ESMA conducted in December 2011 of three groups of CRAs, namely Fitch Ratings (Fitch), Moody’s Investor Services (Moody’s) and Standard and Poor’s Rating Services (S&P).
18/04/2012 2012/256 ESMA approves credit ratings from Argentina and Mexico for use in the EU , Press Release PDF
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The European Securities and Markets Authority (ESMA) announces today that it considers the regulatory frameworks for credit rating agencies (CRAs) of Argentina and Mexico to be in line with European Union rules.  Today’s announcement allows European financial institutions to continue using credit ratings issued in these countries for regulatory purposes after 30 April 2012.In order to facilitate regulatory information exchange, and as a precondition to endorsement, ESMA has entered into co-operation agreements for the supervision of CRAs with the national competent authorities of Argentina and Mexico.  Ratings issued under the regulatory frameworks of Australia, Canada, Hong Kong, Japan, Singapore and the United States have already been approved for use in the EU.
27/04/2012 2012/274 ESMA approves credit ratings from Brazil for use in the EU , Press Release PDF
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ESMA considers the regulatory framework for credit rating agencies (CRAs) of Brazil to be in line with European Union rules. This allows European financial institutions to continue using credit ratings issued in Brazil for regulatory purposes after 30 April 2012. In order to facilitate the exchange of regulatory information, and as a precondition to endorsement, ESMA has also entered into a co-operation agreement for the supervision of CRAs with the Securities and Exchange Commission of Brazil (Comissão de Valores Mobiliários – CVM).
20/12/2012 2012/860 ESMA proposes guidelines on the scope of the CRA Regulation , Press Release PDF
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ESMA proposes guidelines on the scope of the CRA Regulation The European Securities and Markets Authority (ESMA) has launched a Consultation Paper on Guidelines and Recommendations on the scope of the CRA Regulation.  The draft Guidelines aim to provide clarification on certain aspects of the scope of the Credit Rating Agencies (CRA) Regulation to registered CRAs, other market participants operating on the perimeter of this sector and to national securities markets regulators.The draft Guidelines focus on a number of areas under the CRA Regulation, which ESMA believes require clarification following its experience of the registration process and the enforcement of the perimeter of the CRA Regulation under the new EU supervisory regime.  The Guidelines will contribute to a consistent approach to the application of the CRA Regulation and ensure a level-playing field for all market participants in this industry.ESMA would like to remind market participants that issuing credit ratings in the EU is a regulated activity.  Market participants conducting rating activities within the scope of the CRA Regulation must apply for registration with ESMA, and that carrying on these activities without registration constitutes an infringement of the CRA Regulation and is subject to administrative sanctions, including fines.The draft Guidelines address the following issues:•    Obligation to register;•    Credit rating activities and exemptions from registration;•    Private Ratings;•    Establishment of branches outside the EU by registered CRAs;•    Specific disclosure best practices – credit scoring firms and export credit agencies; and•    Enforcement of the scope of the CRA RegulationThe closing date for responses is 20 February 2013 and an open hearing on the consultation will take place in Paris on 22 January 2013.
23/01/2013 2013/97 ESMA sets out its 2013 CRA work programme , Press Release PDF
160.82 KB
18/03/2013 2013/325 ESMA requires further improvements by CRAs , Press Release PDF
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The European Securities and Markets Authority (ESMA) has published its second Annual Report on its supervision of credit rating agencies (CRAs) in the European Union.
30/05/2013 2013/630 ESMA approves EIU as a credit rating agency , Press Release PDF
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The European Securities and Markets Authority (ESMA) has formally approved the registration of the Economist Intelligence Unit (EIU), based in the United Kingdom, as a credit rating agency (CRA) under Article 16 of the CRA Regulation. The registration takes effect from 3 June 2013. EIU’s registration as a CRA means that its credit ratings can be used for regulatory purposes under EU legislation.
07/06/2013 2013/700 ESMA approves Dagong Europe as a credit rating agency Press Release PDF
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The European Securities and Markets Authority (ESMA) has formally approved the registration of Dagong Europe Credit Rating Srl (Dagong Europe), based in Italy, as a credit rating agency (CRA) under Article 16 of the CRA Regulation. The registration takes effect from 13 June 2013.
17/06/2013 2013/743 ESMA clarifies boundary of CRA Regulation Press Release PDF
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01/07/2013 2013/853 ESMA approves Spread Research as a credit rating agency Press Release PDF
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The European Securities and Markets Authority (ESMA) has formally approved the registration of Spread Research SAS, based in France, as a credit rating agency (CRA) under Article 16 of the CRA Regulation. The registration takes effect from 1 July 2013.
10/07/2013 2013/924 ESMA launches consultation on implementation of new CRA Regulation , Press Release PDF
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The European Securities and Markets Authority (ESMA) has published a Discussion Paper dealing with the implementation of the CRA3 Regulation, which entered into force on 20 June 2013.The Regulation, which complements the existing regulatory framework for credit rating agencies (CRAs), requires ESMA to draft Regulatory Technical Standards (RTS) on:•    disclosure requirements on structured finance instruments (SFIs);•    the European Rating Platform (ERP); and•    the periodic reporting on fees charged by CRAs.ESMA is seeking views from all interested parties in order to assist in its preparation of the draft RTS to be published for consultation in early 2014.  ESMA must submit the draft RTS to the European Commission by 21 June 2014.
03/10/2013 2013/1400 20 September 2013 meeting of the Principals of the OTC Derivative Regulators Group , Press Release PDF
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Principals and senior representatives of authorities responsible for the regulation of the over-the-counter (OTC) derivatives markets in Australia, Brazil, the European Union, Hong Kong, Japan, Ontario, Québec, Singapore, Switzerland and the United States met on 20 September 2013 at the headquarters of the European Securities and Markets Authority (ESMA) in Paris.  The Principals and representatives include:  ·         Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA); ·         Greg Medcraft, Chairman of the Australian Securities and Investments Commission; ·         Leonardo Pereira, Chairman of the Comissão de Valores Mobiliários (Brazil); ·         Patrick Pearson, Acting Director at the European Commission; ·         Ashley Alder, Chief Executive Officer of the Hong Kong Securities and Futures Commission; ·         Masamichi Kono, Vice-Commissioner of the Japan Financial Services Agency; ·         Howard Wetston, Chair of the Ontario Securities Commission; ·         Anne Héritier Lachat, Chair of the Swiss Financial Market Supervisory Authority; ·         Gary Gensler, Chairman of the United States Commodity Futures Trading Commission; ·         Mary Jo White, Chair of the United States Securities and Exchange Commission; ·         Chuan Teck Lee, Assistant Managing Director at the Monetary Authority of Singapore; ·         Louis Morisset, President and CEO, l’Autorité des marchés financiers du Québec.  The Principals discussed generally: the application of clearing requirements to foreign branches and affiliates; risk mitigation techniques for non-centrally cleared derivatives transactions, such as timely confirmation, portfolio reconciliation, portfolio compression, valuation and dispute resolution; the need to co-operate in the implementation of internationally agreed standards on margin for non-centrally cleared derivatives transactions; co-operation on equivalence and substituted compliance assessments among the relevant authorities; and co-operation between authorities in the supervision of registered foreign entities;  The Principals agreed to meet again in February to continue the discussion of the above points.

07/11/2013 2013/1629 ESMA registers trade repositories , Press Release PDF
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ESMA registers DDRL, KDPW, Regis-TR, and UnaVista as trade repositories The European Securities and Markets Authority (ESMA) has approved today the registrations of the first four trade repositories (TRs) under the European Market Infrastructure Regulation (EMIR). The following entities are registered as TRs for the European Union (EU):   DTCC Derivatives Repository Ltd. (DDRL), based in the United Kingdom; Krajowy Depozyt Papierów Wartosciowych S.A. (KDPW), based in Poland; Regis-TR S.A., based in Luxembourg; and UnaVista Ltd, based in the United Kingdom. Steven Maijoor, ESMA Chair, said: “Registering the first European trade repositories is an important component in making derivative markets more transparent and resilient. TRs play a fundamental role in the surveillance of derivatives markets and in risk monitoring. The data gathered by TRs will enable regulators to identify and reduce the risks associated with derivative markets. “ESMA’s TR supervision will ensure more robust market infrastructures and benefit investors, fi-nancial markets and the economy as a whole. Trade reporting to start mid-February TRs are commercial firms that centrally collect and maintain the records of derivatives contracts reported to them. The registration of these TRs means that they can be used by the counterparties to a derivative transaction to fulfil their trade reporting obligations under EMIR. The registrations will take effect on 14 November 2013, with the reporting obligation beginning on 12 February 2014, i.e. 90 calendar days after the official registration date. The registered TRs cover all derivative asset classes –commodities, credit, foreign exchange, equity, interest rates and others – irrespective of whether the contracts are traded on or off exchange. ESMA now assumes supervisory responsibility for the TRs who must continue to comply, on an on-going basis, with the regulatory requirements set out under EMIR. ESMA is currently processing further TR applications. Press release ref. 2013/1629

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