Responding to this paper
ESMA invites comments on all matters in this paper. Comments are most helpful if they:
contain a clear rationale;
include quantitative elements to support any concern; and
describe any alternatives ESMA should consider, including alternative drafts.
ESMA will consider all comments received by 11 April 2014.
All contributions should be submitted online at www.esma.europa.eu under the heading ‘Consultations’.
Publication of responses
All contributions received will be published following the close of the consultation period, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make is reviewable by ESMA’s Board of Appeal and the European Ombudsman.
Information on data protection can be found at www.esma.europa.eu under the heading ‘Disclaimer’.
Who should read this paper
Users and producers of credit ratings and anybody who is involved in the issuance of structured finance instruments (issuers, originators and sponsors) or interested in the up-to-date individual rating data or in competition in the credit market should read this paper. This includes institutional and retail investors, investment firms, asset management firms, issuers of any kind of debt, central banks, supervisory bodies but also academics and any stakeholder engaged in SFI activities.
|11/02/2014||2014/150||Consultation Paper on CRA3 Implementation||Downloadpdf, 1.92 MB|