Art. 19

in force 2015-06-21 MODIFIED±0§

Amended by Regulation (EU) No 462/2013 32013R0462

applies from: unknown

Sources disagree — the amending act's instructions found this change; the text comparison finds no difference in the provision's text and the EU's own amendment metadata does not list it. All are shown; none is overruled.

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in force 2013-06-20 MODIFIED§

Amended by Regulation (EU) No 462/2013 32013R0462

applies from: unchanged

Sources disagree — the text comparison and the amending act's instructions found this change; the EU's own amendment metadata does not list it. All are shown; none is overruled.

The provision now states that ESMA's fees must fully cover expenditure relating to registration, certification and supervision of credit rating agencies, whereas the earlier text referred only to registration and supervision.

The wording describing the fees ESMA charges was also rephrased from charging fees to the credit rating agencies to charging credit rating agencies fees, with the referenced regulation now described as the Commission regulation rather than the regulation on fees referred to in paragraph 2.

Cited: Art. 19, v1 · Art. 19, v2

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in force 2011-06-01 MODIFIED§

Amended by Regulation (EU) No 513/2011 32011R0513

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.

The provision changes from a single unnumbered paragraph allowing the competent authority of the home Member State to charge fees proportionate to its costs, to a two-paragraph structure in which ESMA charges the fees to credit rating agencies.

The new paragraph 1 states that the fees must fully cover ESMA's necessary expenditure on registration and supervision plus reimbursement of costs incurred by competent authorities carrying out delegated work under Article 30, while the new paragraph 2 assigns the Commission the task of adopting a regulation on fees, specifying fee types, amounts, payment arrangements and reimbursement mechanisms, and requiring fees charged to a credit rating agency to cover administrative costs and be proportionate to that agency's turnover.

The after text further specifies that the Commission is to adopt this fees regulation by means of a delegated act in accordance with Article 38a and subject to the conditions of Articles 38b and 38c.

Cited: Art. 19, v1 · Art. 19, v2

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