On 29 January 2021, the European Securities and Markets Authority (ESMA) issued a consultation on revising the Delegated Regulation regarding fees charged to credit rating agencies (CRAs).

ESMA’s main proposals are to charge:

  • A single registration fee of €45,000.
  • Annual supervisory fees of €20,000 to registered CRAs with annual revenues of between €1 million and €10 million.
  • An annual endorsement fee of €20,000 to all CRAs endorsing credit ratings for use in the EU.
  • Annual fees to all certified CRAs.

The deadline for comments on the consultation paper is 15 March 2021. The responses to the consultation paper will inform ESMA’s technical advice to the European Commission on the revision of the Delegated Regulation, by 31 June 2021.