Annexes to SEC(2010)679 - Summary of the impact assessment - Accompanying document to the Proposal for a Regulation of the European Parliament and of the Council amending Regulation (EC) No 1060/2009 on credit rating agencies

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dossier SEC(2010)679 - Summary of the impact assessment - Accompanying document to the Proposal for a Regulation of the European Parliament and of ...
document SEC(2010)679 EN
date June  2, 2010
agreement can be reached consult the CESR, and the college again. Only after those iterations are completed, the competent authority may take a decision.

4We are aware that this option which reflects the supervisory framework under the current CRA Regulation would not be realistic if ESMA enters into force as envisaged by beginning of 2011. In the latter case, ESMA will have additional powers which would also impact on its role regarding the registration and supervision of CRAs. Nonetheless, we think it is important to refer to the current CRA Regulation as baseline scenario as the content of the future ESMA Regulation and in particular how the current CRA Regulation would be adapted to it are not (yet) fully clear. We describe under option 2 a possible scenario how the current CRA Regulation could function under the (future) ESMA framework.

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