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New version applies from 23/05/2014 — introduced by Directive 2014/51/EU.
77 provisions change.
Later versions: 21/06/2015, 01/01/2019, 09/01/2024, 17/01/2025.
Regulation (EC) No 1060/2009
21/07/2011 → 20/06/2013: 11 inserted · 0 removed · 99 amended · 0 moved · 3 renamed · 35 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 1 - Subject matter Title I
- amended Article 2 - Scope Title I
- 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
- inserted Article 5a - Over-reliance on credit ratings by financial institutions Title I
- inserted Article 5b - Reliance on credit ratings by the European Supervisory Authorities and the European Systemic Risk Board Title I
- inserted Article 5c - Over-reliance on credit ratings in Union law Title I
Title II - ISSUING OF CREDIT RATINGS
- amended Article 6 - Independence and avoidance of conflicts of interest Title II
- inserted Article 6a - Conflicts of interest concerning investments in credit rating agencies Title II
- inserted Article 6b - Maximum duration of the contractual relationship with a credit rating agency Title II
- amended Article 7 - Rating analysts, employees and other persons involved in the issuing of credit ratings Title II
- amended Article 8 - Methodologies, models and key rating assumptions Title II
- inserted Article 8a - Sovereign ratings Title II
- inserted Article 8b - Information on structured finance instruments Title II
- inserted Article 8c - Double credit rating of structured finance instruments Title II
- inserted Article 8d - Use of multiple credit rating agencies Title II
- amended Article 10 - Disclosure and presentation of credit ratings Title II
- amended Article 11 - General and periodic disclosures Title II
Title II · 3 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
- amended 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
- amended Article 19 - Registration and supervisory fees Title III › Chapter I
- amended Article 21 - ESMA Title III › Chapter II
- renamed Article 22a - Examination of compliance with methodology requirements Title III › Chapter II was “Article 22a - Examination of compliance with the back-testing obligation”
- amendedrenamed Article 25a - Sectoral competent authorities responsible for the supervision and enforcement of Article 4(1) and Articles 5a, 8b, 8c and 8d Title III › Chapter II was “Article 25a - Sectoral competent authorities responsible for the supervision and enforcement of Article 4(1) (the use of credit ratings)”
- amended Article 34 - Agreement on exchange of information Title III › Chapter IV
Title III · 18 unchanged
Article 16 · Article 17 · Article 20 · Article 22 · Article 23 · Article 23a · Article 23b · Article 23c · Article 23d · Article 23e · Article 24 · Article 25 · Article 26 · Article 27 · Article 30 · Article 31 · Article 32 · Article 35
Title IIIA - CIVIL LIABILITY OF CREDIT RATING AGENCIES inserted
- inserted Article 35a - Civil liability Title IIIA
Title IV - PENALTIES, COMMITTEE PROCEDURE, REPORTING AND TRANSITIONAL AND FINAL PROVISIONS
- amended Article 36a - Fines Title IV › Chapter I
- amended Article 38 - Committee procedure Title IV › Chapter I
- amended Article 39 - Reports Title IV › Chapter I
- amendedrenamed Article 39a - ESMA’s staffing and resources Title IV › Chapter I was “Article 39a - Report by ESMA”
- inserted Article 39b - Reporting obligations Title IV › Chapter I
Title IV · 12 unchanged
Article 36 · Article 36b · Article 36c · Article 36d · Article 36e · Article 37 · Article 38a · Article 38b · Article 38c · Article 40 · Article 40a · Article 41
Annexes
- amended Annex I - INDEPENDENCE AND AVOIDANCE OF CONFLICTS OF INTEREST
- amended Annex II - INFORMATION TO BE PROVIDED IN THE APPLICATION FOR REGISTRATION
- amended Annex III - List of infringements referred to in Article 24(1) and Article 36a(1)