Tuesday February 11 2014

News Source: Global Exchanges

Focus: Stock Exchange Regulation

Type: General




The European Securities and Markets Authority (ESMA) have published a Consultation Paper setting out the draft Regulatory Technical Standards (RTS) required for the implementation of the CRA3 Regulation (Regulation).

The draft RTS, which complements the existing regulatory framework for credit rating agencies (CRAs), cover:

• disclosure requirements on structured finance instruments (SFIs);
• the European Rating Platform (ERP); and
• the periodic reporting on fees charged by CRAs.

Draft RTS on Information on Structured Finance Instruments

The draft RTS aims to facilitate the provision of adequate information on SFIs, and their underlying assets, to investors, in order to improve their ability to make informed assessments on the creditworthiness of SFIs, reduces reliance on external credit ratings, promote competition between CRAs and facilitate the assignment of unsolicited credit ratings.

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