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The European Securities and Markets Authority (ESMA) participated in a scrutiny hearing of the Economic and Monetary Affairs Committee at the European Parliament in Brussels this morning on the Credit Rating Agencies (CRA) Regulation.
ESMA's statement outlines the work it has undertaken in relation to the Credit Rating Agencies (CRA) Regulation and provides an update on the state of play on a number of initiatives, these include:
- European Ratings Platform;
- Fees;
- Transparency on structured finance instruments;
- Reducing over-reliance on credit ratings;
- Competition issues;
- Sanctions; and
- the endorsement regime.
