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Responses should be submitted by March 31, 2015.
ESMA is asking for evidence on how regulation is achieving the objectives of stimulating competition between credit rating agencies, improving the choice of credit rating agencies available and minimising conflicts of interests in the industry. The call for evidence is particularly targeted at the following groups and the associations representing them:
Questions regarding the need to propose measures to reduce overreliance on credit ratings as set out in Article 39(5)(g) are not included in this call for evidence as Technical Advice on this point is being prepared through ESMA’s ongoing work with the Joint Committee of the European Supervisory Authorities on contractual reliance on external credit ratings. The Joint Committee has issued a discussion paper on this subject. Credit institutions, insurance and reinsurance entities, investment firms, investment managers, central counterparties and the National Authorities who supervise them are invited to submit comments on the Joint Committee’s discussion paper by 27 February 2015.