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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.
Regulation (EC) No 1060/2009
07/12/2009 → 01/06/2011: 19 inserted · 3 removed · 106 amended · 0 moved · 9 renamed · 10 unchanged
Position-only shifts inside the same heading are not changes. Amended = the printed text changed.
Preamble
Preamble · 1 unchanged
Recitals
- amended Recital 1
- amended Recital 2
- amended Recital 3
- amended Recital 4
- amended Recital 5
- amended Recital 6
- amended Recital 7
- amended Recital 8
- amended Recital 9
- amended Recital 10
- amended Recital 11
- amended Recital 12
- amended Recital 13
- amended Recital 14
- amended Recital 15
- amended Recital 16
- amended Recital 17
- amended Recital 18
- amended Recital 19
- amended Recital 20
- amended Recital 21
- amended Recital 22
- amended Recital 23
- amended Recital 24
- amended Recital 25
- amended Recital 26
- amended Recital 27
- amended Recital 28
- amended Recital 29
- amended Recital 30
- amended Recital 31
- amended Recital 32
- amended Recital 33
- amended Recital 34
- amended Recital 35
- amended Recital 36
- amended Recital 37
- amended Recital 38
- amended Recital 39
- amended Recital 40
- amended Recital 41
- amended Recital 42
- amended Recital 43
- amended Recital 44
- amended Recital 45
- amended Recital 46
- amended Recital 47
- amended Recital 48
- amended Recital 49
- amended Recital 50
- amended Recital 51
- amended Recital 52
- amended Recital 53
- amended Recital 54
- amended Recital 55
- amended Recital 56
- amended Recital 57
- amended Recital 58
- amended Recital 59
- amended Recital 60
- amended Recital 61
- amended Recital 62
- amended Recital 63
- amended Recital 64
- amended Recital 65
- amended Recital 66
- amended Recital 67
- amended Recital 68
- amended Recital 69
- amended Recital 70
- amended Recital 71
- amended Recital 72
- amended Recital 73
- amended Recital 74
- amended Recital 75
Title I - SUBJECT MATTER, SCOPE AND DEFINITIONS
- amended Article 3 - Definitions Title I
- amended Article 4 - Use of credit ratings Title I
- amended Article 5 - Equivalence and certification based on equivalence Title I
Title II - ISSUING OF CREDIT RATINGS
- amended Article 6 - Independence and avoidance of conflicts of interest Title II
- amended Article 9 - Outsourcing Title II
- amended Article 10 - Disclosure and presentation of credit ratings Title II
- amended Article 11 - General and periodic disclosures Title II
Title II · 4 unchanged
Title III - SURVEILLANCE OF CREDIT RATING ACTIVITIES
- amended Article 14 - Requirement for registration Title III › Chapter I
- amended Article 15 - Application for registration Title III › Chapter I
- amendedrenamed Article 16 - Examination of the application for registration of a credit rating agency by ESMA Title III › Chapter I was “Article 16 - Examination of the application for registration of a credit rating agency by the competent authorities”
- amendedrenamed Article 17 - Examination of the applications for registration of a group of credit rating agencies by ESMA Title III › Chapter I was “Article 17 - Examination of the applications for registration of a group of credit rating agencies by the competent authorities”
- amendedrenamed Article 18 - Notification of a decision to register, refuse or withdraw registration, and publication of the list of registered credit rating agencies Title III › Chapter I was “Article 18 - Notification of the decision on the registration, refusal of registration or the withdrawal of registration of a credit rating agency”
- amended Article 19 - Registration and supervisory fees Title III › Chapter I
- amended Article 20 - Withdrawal of registration Title III › Chapter I
- renamed Title III › Chapter II - Supervision by ESMA was “Chapter II - CESR and competent authorities”
- amendedrenamed Article 21 - ESMA Title III › Chapter II was “Article 21 - Committee of European Securities Regulators”
- inserted Article 22a - Examination of compliance with the back-testing obligation Title III › Chapter II
- amendedrenamed Article 23 - Non-interference with content of ratings or methodologies Title III › Chapter II was “Article 23 - Powers of competent authorities”
- inserted Article 23a - Exercise of the powers referred to in Articles 23b to 23d Title III › Chapter II
- inserted Article 23b - Requests for information Title III › Chapter II
- inserted Article 23c - General investigations Title III › Chapter II
- inserted Article 23d - On-site inspections Title III › Chapter II
- inserted Article 23e - Procedural rules for taking supervisory measures and imposing fines Title III › Chapter II
- amendedrenamed Article 24 - Supervisory measures by ESMA Title III › Chapter II was “Article 24 - Supervisory measures by the competent authorities of the home Member State”
- amendedrenamed Article 25 - Hearing of the persons concerned Title III › Chapter II was “Article 25 - Supervisory measures by competent authorities other than the competent authority of the home Member State”
- inserted Article 25a - Sectoral competent authorities responsible for the supervision and enforcement of Article 4(1) (the use of credit ratings) Title III › Chapter II
- renamed Title III › Chapter III - Cooperation between ESMA, competent authorities and sectoral competent authorities was “Chapter III - Cooperation between competent authorities”
- amended Article 26 - Obligation to cooperate Title III › Chapter III
- amended Article 27 - Exchange of information Title III › Chapter III
- removed Article 28 - Cooperation in case of a request with regard to on-site inspections or investigations Title III › Chapter III
- removed Article 29 - Colleges of competent authorities Title III › Chapter III
- amendedrenamed Article 30 - Delegation of tasks by ESMA to competent authorities Title III › Chapter III was “Article 30 - Delegation of tasks between competent authorities”
- amendedrenamed Article 31 - Notifications and suspension requests by competent authorities Title III › Chapter III was “Article 31 - Mediation”
- amended Article 32 - Professional secrecy Title III › Chapter III
- removed Article 33 - Disclosure of information from another Member State Title III › Chapter III
- amended Article 34 - Agreement on exchange of information Title III › Chapter IV
- amended Article 35 - Disclosure of information from third countries Title III › Chapter IV
Title III · 1 unchanged
Title IV - PENALTIES, COMMITTEE PROCEDURE, REPORTING AND TRANSITIONAL AND FINAL PROVISIONS
- renamed Title IV › Chapter I - Penalties, fines, periodic penalty payments, committee procedure, delegated powers and reporting was “Chapter I - Penalties, committee procedure and reporting”
- amended Article 36 - Penalties Title IV › Chapter I
- inserted Article 36a - Fines Title IV › Chapter I
- inserted Article 36b - Periodic penalty payments Title IV › Chapter I
- inserted Article 36c - Hearing of the persons subject to the proceedings Title IV › Chapter I
- inserted Article 36d - Disclosure, nature, enforcement and allocation of fines and periodic penalty payments Title IV › Chapter I
- inserted Article 36e - Review by the Court of Justice of the European Union Title IV › Chapter I
- amended Article 37 - Amendments to Annexes Title IV › Chapter I
- amended Article 38 - Committee procedure Title IV › Chapter I
- inserted Article 38a - Exercise of the delegation Title IV › Chapter I
- inserted Article 38b - Revocation of the delegation Title IV › Chapter I
- inserted Article 38c - Objections to delegated acts Title IV › Chapter I
- amended Article 39 - Reports Title IV › Chapter I
- inserted Article 39a - Report by ESMA Title IV › Chapter I
- amended Article 40 - Transitional provision Title IV › Chapter II
- inserted Article 40a - Transitional measures related to ESMA Title IV › Chapter II
Title IV · 1 unchanged
Annexes
- amended Annex I - INDEPENDENCE AND AVOIDANCE OF CONFLICTS OF INTEREST
- inserted Annex III - List of infringements referred to in Article 24(1) and Article 36a(1)
- inserted Annex IV - List of the coefficients linked to aggravating and mitigating factors for the application of Article 36a(3)