The Credit Rating Agencies (Civil Liability) Regulations 2013

1Citation and commencement

2Interpretation

3“Intention”

4“Gross negligence”

6“Reasonably relied”

7“Due care”

9Reasonable and proportionate limitations on liability

10Issuers: solicited credit ratings

11Issuers: unsolicited credit ratings

13Issuers: general approach to determining damages

14Investors: general approach to determining damages

15Issuers and investors: duty to mitigate loss and contributory negligence

16Limitation Period

17Courts with jurisdiction to hear Article 35a claims

2013 No. 1637

Financial Services And Markets

The Credit Rating Agencies (Civil Liability) Regulations 2013

Made3rd July 2013

Laid before Parliament4th July 2013

Coming into force25th July 2013

The Treasury are designated1 for the purposes of section 2(2) of the European Communities Act 19722 in relation to financial services.C1

The Treasury, in exercise of the powers conferred by section 2(2) of the European Communities Act 1972, make the following Regulations:F1 C1

Annotations:

Amendments (Textual)

F1

Regulations revoked (14.12.2023 for the revocation of reg. 18) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(v)

Modifications etc. (not altering text)

C1

Regulations: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 2; S.I. 2023/779, reg. 2(d)