(19)This Regulation should not apply to credit ratings that a credit rating agency produces pursuant to an individual order and provides exclusively to the person who ordered it and which are not intended for public disclosure or distribution by subscription.
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New version applies from 21/07/2011 — introduced by Alternative Investment Fund Managers Directive (AIFMD).
81 provisions change.
Later versions: 20/06/2013, 23/05/2014, 21/06/2015, 01/01/2019, 09/01/2024, 17/01/2025.
Recital 19 changes in this version: compare with the current text.