Article 6
Policies and procedures
1. Policies and procedures provided in an application shall contain or be accompanied by:
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(a) |
an indication of who is responsible for the approval and maintenance of the policies and procedures; |
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(b) |
a description of how compliance with the policies and procedures will be enforced and monitored and who is responsible for this; |
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(c) |
a description of the measures undertaken in the event of a breach of the policies; |
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(d) |
an indication of the procedure for reporting to ESMA a material breach of the policy or procedure which may result in a breach of the conditions for initial registration or certification. |
2. A credit rating agency may fulfil the obligation to provide information regarding its policies and procedures under this Regulation by submitting a copy of the relevant policies and procedures.