TITLE IIISURVEILLANCE OF CREDIT RATING ACTIVITIES
F1CHAPTER IISupervision by ESMA
F1Article 23bRequests for information
1.
ESMA may by simple request or by decision require credit rating agencies, persons involved in credit rating activities, rated entities and related third parties, third parties to whom the credit rating agencies have outsourced operational functions or activities and persons otherwise closely and substantially related or connected to credit rating agencies or credit rating activities to provide all information that is necessary in order to carry out its duties under this Regulation.
2.
When sending a simple request for information under paragraph 1, ESMA shall:
(a)
refer to this Article as the legal basis for the request;
(b)
state the purpose of the request;
(c)
specify what information is required;
(d)
set a time-limit within which the information is to be provided;
(e)
inform the person from whom the information is requested that there is no obligation to provide the information but that any reply to the request for information must not be incorrect or misleading;
(f)
indicate the fine provided for in Article 36a, in conjunction with point 7 of Section II of Annex III, where the answers to questions asked are incorrect or misleading.
3.
When requiring the supply of information under paragraph 1 by decision, ESMA shall:
(a)
refer to this Article as the legal basis for the request;
(b)
state the purpose of the request;
(c)
specify what information is required;
(d)
set a time-limit within which the information is to be provided;
(e)
indicate the periodic penalty payments provided for in Article 36b where the production of the required information is incomplete;
(f)
indicate the fine provided for in Article 36a, in conjunction with point 7 of Section II of Annex III, where the answers to questions asked are incorrect or misleading; and
(g)
indicate the right to appeal the decision before the Board of Appeal and to have the decision reviewed by the Court of Justice of the European Union in accordance with Articles 60 and 61 of Regulation (EU) No 1095/2010.
4.
The persons referred to in paragraph 1 or their representatives and, in the case of legal persons or associations having no legal personality, the persons authorised to represent them by law or by their constitution, shall supply the information requested. Lawyers duly authorised to act may supply the information on behalf of their clients. The latter shall remain fully responsible if the information supplied is incomplete, incorrect or misleading.
5.
ESMA shall, without delay, send a copy of the simple request or of its decision to the competent authority of the Member State where the persons referred to in paragraph 1 who are concerned by the request for information are domiciled or established.