in force 2011-06-01 MODIFIED+343 −1,229§
Amended by Regulation (EU) No 513/2011 32011R0513
applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)
dates added to the text: 1958-04-15
The provision replaces CESR with ESMA as the body receiving registration applications and the associated notifications, and the language requirement in paragraph 3 is changed from submission in the home Member State's required language plus a language customary in international finance to submission in any official language of the institutions of the Union, with Regulation No 1 of 15 April 1958 on languages applying mutatis mutandis to communications between ESMA and credit rating agencies.
The separate steps previously split between CESR's transmission and advice role and the competent authority of the home Member State's completeness assessment (paragraphs 4 to 6) are consolidated into a single paragraph 4 in which ESMA itself assesses completeness within 20 working days, sets deadlines for additional information, and notifies the credit rating agency, removing the prior distinct five-day, ten-day and 25-day steps and the involvement of the college of competent authorities.
Cited: Art. 15, v1 · Art. 15, v2
text before / after
02009R1060-20091207 → 02009R1060-20110601
Article 15
Application for registration
1. The credit rating agency shall submit an application for registration to CESR. ESMA. The application shall contain information on the matters set out in Annex II.
2. Where a group of credit rating agencies applies for registration, the members of the group shall mandate one of their number to submit all the applications to CESR ESMA on behalf of the group. The mandated credit rating agency shall provide the information on the matters set out in Annex II for each member of the group.
3. A credit rating agency shall submit its application in the language which is required under the law of its home Member State and also in a language customary in the sphere of international finance.
An application for registration sent by CESR to the competent authority any of the home Member State shall be considered official languages of the institutions of the Union. The provisions of Regulation No 1 of 15 April 1958 determining the languages to be an application submitted used by the European Economic CommunityOJ 17, 6.10.1958, p. 385/58. shall apply mutatis mutandis to any other communication between ESMA and the credit rating agency concerned. agencies and their staff.
4. Within five 20 working days of receipt of the application, CESR shall transmit copies of the application to the competent authorities of all Member States.
Within 10 working days of receipt of the application, CESR shall provide advice to the competent authority of the home Member State on the completeness of the application.
5. Within 25 working days of receipt of the application, the competent authority of the home Member State and the members of the relevant college ESMA shall assess whether the application is complete, taking into account the advice of CESR referred to in paragraph 4. complete. If the application is not complete, the competent authority of the home Member State ESMA shall set a deadline by which the credit rating agency is to provide additional information to it and to CESR and shall notify the members of the college and CESR accordingly. information.
After assessing an application as complete, the competent authority of the home Member State ESMA shall notify the credit rating agency, the members of the college and CESR agency accordingly.
6. Within five working days of receipt of the additional information referred to in paragraph 5, CESR shall transmit the additional information to the competent authorities of all other Member States.