argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: ESMA - Opinion - Credit Ratings

One of the issues that are dealt with by ESMA concerns the use of credit ratings in the EU and the way the access and use of the same can be improved inside the Union. Accordingly, the European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, issued an opinion on the subject, underlining the difficulties experienced by users of credit ratings. The opinion also addresses the legislators in order to invite them to modify the CRA Regulation or to use other legislative tools to ameliorate the situation. The greatest issue that ESMA faces concerns the availability of the ratings and specifically the difficulties in the access: credit ratings published on CRA’s websites cannot be accessed in a machine-readable format or downloaded in sufficient numbers to be used for regulatory purposes. Furthermore, often the users of credit ratings state that the terms of the licence agreements they must enter into to use credit ratings are rapidly modified and that they often need to sign additional licences to maintain a consistent level of data usage over time.