On 3 January 2024, the European Commission (Commission) published for consultation a draft Delegated Regulation amending Delegated Regulation (EU) 272/2012 as regards harmonisation of certain aspects linked to fees charged by the European Securities and Markets Authority (ESMA) to credit rating agencies (CRAs).

Article 19(1) of Regulation 1060/2009 provides that ESMA shall charge fees to CRAs which cover ESMA’s costs relating to the registration, certification and supervision of CRAs. Commission Delegated Regulation (EU) 272/2012 with regard to the fees charged by ESMA to CRAs entered into force on 31 March 2012.

Following recommendations from the Internal Audit Service, the European Court of Auditors and technical advice provided by ESMA, the Commission is seeking to align certain technical aspects of the fee collection process across ESMA’s mandate.

The draft Delegated Regulation aligns several elements of the fees to be paid by CRAs to ESMA with corresponding rules in other areas in which ESMA charges fees. The amendments include that fees should fully cover the costs (direct and indirect) of ESMA’s supervisory activities and that supervisory fees charged to CRAs are determined in accordance with ESMA’s budgeting procedure and set at a level which avoids any significant and recurrent accumulation of deficit or surplus.

The deadline for comments on the draft delegated act is 31 January 2024.