Call for Evidence Competition, Choice and Conflicts of Interests in the CRA Industry

The European Securities and Markets Authority (ESMA) has published a call for evidence as part of the development of Technical Advice for the European Commission on the functioning of the credit rating industry and the evolution of the markets for structured finance instruments as required by the Regulation on credit rating agencies. ESMA is asking for evidence about how the Regulation is achieving the objectives of stimulating competition between credit rating agencies, improving the choice of credit rating agencies available and minimising conflicts of interests in the industry. The call for evidence is particularly targeted at the following groups and the associations representing them:1.    Corporate and sovereign issuers of financial instruments requesting credit ratings.2.    Credit rating agencies issuing credit ratings.3.    Institutional investors and other users of credit ratings.
Responses should be submitted through the website by close of business on Tuesday 31 March 2015. Please use the response template corresponding to your activity where possible and upload your response forms, supporting evidence and any other submissions you would like to make to ESMA below.
If you experience any technical problems uploading your response, please email it to info@esma.europa.eu.