On 15 July 2016, we blogged that the European Securities and Markets Authority (ESMA) published a consultation paper concerning draft guidelines on validation and review of credit ratings agencies’ (CRAs) methodologies. The consultation closed on 22 August 2016. ESMA has now published a final report in which it considers the responses received to its earlier consultation. It also sets out the final guidelines. These will now be translated into the official languages of the European Union and become effective 2 months after their publication on ESMA’s website.

View ESMA final report on guidelines on validation and review of CRA’s methodologies, 15 November 2016