Regulation (EC) No 1060/2009 of the European Parliament and of the CouncilShow full title

III. Transparency report U.K.

A credit rating agency shall make available annually the following information: U.K.

1. detailed information on legal structure and ownership of the credit rating agency, including information on holdings within the meaning of Articles 9 and 10 of Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on [F1 United Kingdom regulated markets]; U.K.

Textual Amendments

F1 Words in Annex 1 s. E Pt. 3 para. 1 substituted by virtue of (31.12.2020) by The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/266), regs. 1(3), 97(d) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

2. a description of the internal control mechanisms ensuring quality of its credit rating activities; U.K.

[F2 3. statistics on the allocation of its staff to new credit ratings, credit rating reviews, methodology or model appraisal and senior management, and on the allocation of staff to rating activities with regard to the different asset classes (corporate — structured finance — sovereign);] U.K.

Textual Amendments

F2 Substituted by Regulation (EU) No 462/2013 of the European Parliament and of the Council of 21 May 2013 amending Regulation (EC) No 1060/2009 on credit rating agencies (Text with EEA relevance).

4. a description of its record-keeping policy; U.K.

5. the outcome of the annual internal review of its independent compliance function; U.K.

6. a description of its management and rating analyst rotation policy; U.K.

[F2 7. financial information on the revenue of the credit rating agency, including total turnover, divided into fees from credit rating and ancillary services with a comprehensive description of each, including the revenues generated from ancillary services provided to clients of credit rating services and the allocation of fees to credit ratings of different asset classes. Information on total turnover shall also include a geographical allocation of that turnover to revenues generated in the Union and revenues worldwide;] U.K.

8. a governance statement within the meaning of [F3 the United Kingdom provisions which implemented Article 20(1) of Directive 2013/34/EU] on the annual accounts of certain types of companies(1). For the purposes of that statement, the information referred to in [F4 those provisions] shall be provided by the credit rating agency irrespective of whether it is subject to Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids(2). U.K.

Textual Amendments

F3 Words in Annex 1 s. E Pt. 3 para. 8 substituted (31.12.2020) by The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/266), regs. 1(3), 97(e)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F4 Words in Annex 1 s. E Pt. 3 para. 8 substituted (31.12.2020) by The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/266), regs. 1(3), 97(e)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

(1)

OJ L 222, 14.8.1978, p. 11.

(2)

OJ L 142, 30.4.2004, p. 12.