The European Securities and Markets Authority (ESMA) has published its annual report on its supervision of credit rating agencies (CRAs) and trade repositories (TRs).
The report sets out ESMA’s core activities during 2015 and its main supervisory priorities for 2016. In addition to the assessment of applications for registration and its on-going investigations and enforcement work, the key areas ESMA will focus on in the supervision of CRAs in 2016 include CRAs’ governance and strategy and the quality of CRAs’ credit ratings and credit rating activities. In this context, ESMA will specifically examine the application of credit rating methodologies, the validation of models and methodologies, and IT issues specific to individual CRAs.
View ESMA annual report on supervision of CRAs and TRs, 5 February 2016