Updated 22/10/2024

Metadata

In force since 19/06/2012

Initial Legal Act

References (4)

Timeline

30/09/2015

Final Draft published

20/06/2014

Final Draft published

11/02/2014

Consultation published

30/05/2012

Delegated Regulation 449/2012 published in OJ

22/12/2011

Final Draft published

19/09/2011

Consultation published

CRAR Tool Delegated Regulation 449/2012

Delegated Regulation 449/2012

Commission Delegated Regulation (EU) No 449/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on information for registration and certification of credit rating agencies (Text with EEA relevance)

CHAPTER 1 - SUBJECT MATTER (Article 1)Article 1 - Subject matter

CHAPTER 2 - REGISTRATION (Article 2-25)

SECTION 1 - General (Article 2-7)Article 2 - Format of the application Article 3 - Attestation of the accuracy and completeness of the application Article 4 - Number of employees Article 5 - Class of credit ratings Article 6 - Policies and procedures Article 7 - Identification, legal status and class of credit ratings

SECTION 2 - Ownership structure (Article 8-9)Article 8 - Owners and parent undertaking of a credit rating agency Article 9 - Ownership chart

SECTION 3 - Organisational structure and corporate governance (Article 10-12)Article 10 - Organisational chart Article 11 - Organisational structure GL Article 12 - Corporate governance

SECTION 4 - Financial resources for the performance of credit rating activities (Article 13)Article 13 - Financial reports

SECTION 5 - Staffing and compensation (Article 14-15)Article 14 - Staffing policies and procedures Article 15 - Fitness and appropriateness

SECTION 6 - Issuance and review of credit ratings (Article 16-18)Article 16 - Development, validation, review and disclosure of rating methodologies Article 17 - Issuance of credit ratings Article 18 - Monitoring of credit ratings

SECTION 7 - Description of issue and review procedures and methodologies (Article 19)Article 19 - Credit rating presentation requirements

SECTION 8 - Conflicts of interest (Article 20-22)Article 20 - Independence and avoidance of conflicts of interest Article 21 - Inventory of conflicts of interest Article 22 - Conflicts of interest with respect to ancillary services

SECTION 9 - Programme of operations (Article 23)Article 23 - Information regarding the programme of operations

SECTION 10 - Use of endorsement (Article 24)Article 24 - Expected use of endorsement

SECTION 11 - Outsourcing (Article 25)Article 25 - Outsourcing requirements GL

CHAPTER 3 - CERTIFICATION (Article 26-28)

SECTION 1 - Application for certification (Article 26-27)Article 26 - Information for application for certification Article 27 - General requirements for the application for certification

SECTION 2 - Systemic importance (Article 28)Article 28 - Systemic importance

CHAPTER 4 - FINAL PROVISIONS (Article 29)Article 29 - Entry into force

ANNEX I ANNEX II ANNEX III ANNEX IV ANNEX V ANNEX VI ANNEX VII ANNEX VIII ANNEX IX ANNEX X ANNEX XI ANNEX XII