Annex III
Credit Rating Agencies Regulation · 32009R1060 · every event for this act · on EUR-Lex
4 changes recorded across 4 events, newest first.
in force 2025-01-17 MODIFIED+66 −31§
Amended by Regulation (EU) 2022/2554 32022R2554
applies from: unchanged
In point 12 of Section I, the reference to safeguard arrangements for 'information processing systems' has been replaced with a reference to arrangements for 'managing ICT systems in accordance with Regulation (EU) 2022/2554'.
Cited: Annex III, v1 · Annex III, v2
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02009R1060-20240109 → 02009R1060-20250117
ANNEX III
List of infringements referred to in Article 24(1) and Article 36a(1)
I. Infringements related to conflicts of interest, organisational or operational requirements
1. The credit rating agency infringes Article 4(3) by endorsing a credit rating issued in a third country without … 556 unchanged words … credit rating agency infringes Article 6(2), in conjunction with point 4 of Section A of Annex I, by not having sound administrative or accounting procedures, internal control mechanisms, effective procedures for risk assessment, or effective control or safeguard arrangements for information processing systems; managing ICT systems in accordance with Regulation (EU) 2022/2554; or by not implementing or maintaining decision-making procedures or organisational structures as required by that point.
13. The credit rating agency infringes Article 6(2), in conjunction with point 5 of Section A of Annex I, by not establishing or maintaining a … 4,305 unchanged words … or by not identifying an unsolicited credit rating as such.
11. The credit rating agency infringes Article 11(1) by not fully disclosing or immediately updating information relating to the matters set out in Part I of Section E of Annex I.
in force 2019-01-01 MODIFIED§
Amended by Regulation (EU) 2017/2402 32017R2402 · Regulation (EU) No 462/2013 32013R0462
applies from: unchanged
In point 8 of Section I, and in point 24, the term "structured finance instruments" is replaced with "securitisation instruments".
In point 45 of Section I, the phrase referring to "structured finance instruments" is likewise replaced with "securitisation instruments".
The same substitution of "structured finance instruments" with "securitisation instruments" also appears in point 8 of Section III.
Cited: Annex III, v2
text before / after, on the event page →
in force 2013-06-20 MODIFIED§
Amended by Regulation (EU) No 462/2013 32013R0462
applies from: unchanged
Sources disagree — the text comparison and the EU's own amendment metadata found this change; the amending act's instructions do not mention it. All are shown; none is overruled.
Annex III adds numerous new infringement entries covering matters such as re-securitisation contract durations, shareholder or member breaches of ownership restrictions, use of information outside Article 8(2), non-compliant rating methodology changes, sovereign rating monitoring and calendar publication, research report obligations, notification of methodology errors, and disclosure of new or changed rating methodologies, among others.
Many existing entries are reworded to extend their scope from credit ratings alone to also cover rating outlooks, and several references to specific sub-points and periods (such as the five, six or seven-year analyst rotation periods) are restructured or renumbered within the affected points.
Entries concerning information requests and inspections are also reworded to address failures to provide information or explanations, rather than only incorrect or misleading responses.
Cited: Annex III, v2 · Annex III, v1
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in force 2011-06-01 INSERTED§
Amended by Regulation (EU) No 513/2011 32011R0513
applies from: unknown (an inserted provision states its own application date only in prose)
Sources disagree — the text comparison and the EU's own amendment metadata found this change; the amending act's instructions do not mention it. All are shown; none is overruled.
This is a newly added Annex III, setting out a categorised list of infringements referred to in Article 24(1) and Article 36a(1), divided into three groups covering conflicts of interest and organisational or operational requirements, obstacles to supervisory activities, and disclosure provisions.
Each numbered item in the list describes a specific way a credit rating agency infringes a named article or annex provision, ranging from endorsement and independence requirements to record-keeping, methodology reviews, and disclosure obligations.
Cited: Annex III, v2
text before / after, on the event page →