Displaying 231 - 235 of 1467
ESMA_QA_1527
Topic
Position reporting
09/08/2023
Subject Matter
Position reporting
Question
Who should submit position reports under Article 58(2) of MiFID II?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_1477
Topic
CRA Regulation
17/07/2023
Subject Matter
Article 7 MAR and Article 10(2a) CRAR – Distribution of subscription ratings and disclosure of inside information (ESMA33-5-87 Q&A 15)
Question
Where a CRA distributes its credit ratings by subscription, would disclosure of credit ratings only to its subscribers constitute “disclosure to the public” within the meaning of Article 10(2a) and would subscribers be permitted to trade on the basis of these credit ratings?
Level 1 Regulation
Credit Rating Agencies Regulation (CRAR) Regulation (EC) No 1060/2009
ESMA_QA_1476
Topic
CRA Regulation
17/07/2023
Subject Matter
Article 7 MAR and Article 10(2a) CRAR – Disclosure to the public of credit ratings and inside information (ESMA33-5-87 Q&A 14)
Question
Where a credit rating agency discloses credit ratings, rating outlooks and information relating thereto on its public website, does such disclosure suffice to consider them no longer inside information under Regulation (EU) No 596/2014?
Level 1 Regulation
Credit Rating Agencies Regulation (CRAR) Regulation (EC) No 1060/2009
ESMA_QA_1475
Topic
CRA Regulation
17/07/2023
Subject Matter
Article 7 MAR and Article 10(2a) CRAR – Interactions between MAR and CRAR (ESMA33-5-87 Q&A 13)
Question
Are credit ratings, rating outlooks and information relating thereto, pursuant to article 10(2a) of Regulation No 1060/2009, presumed to be inside information until disclosure to the public, or should a case-by-case assessment of the conditions in Article 7 of Regulation (EU) No 596/2014 be anyhow carried out?
Level 1 Regulation
Credit Rating Agencies Regulation (CRAR) Regulation (EC) No 1060/2009
ESMA_QA_1474
Topic
CRA Regulation
17/07/2023
Subject Matter
Article 7(4) and Annex I Section C – Rules on Rating Analysts and Other Persons Directly Involved in Credit Rating Activities (ESMA33-5-87 Q&A 12)
Question
a) What are the rotation periods for “lead analysts”?

b) What are the rotation periods for “rating analysts”?

c) What are the rotation periods for “persons approving credit ratings”?

d) Are there any exceptions to the requirement to rotate lead analysts?

e) Are there any exceptions to the requirements to rotate rating analysts and persons approving credit ratings?

f) How are the rotation periods calculated?
Level 1 Regulation
Credit Rating Agencies Regulation (CRAR) Regulation (EC) No 1060/2009