Regulation on credit rating agencies ,Regulation (EU) No 462/2013 of the European Parliament

Regulation (EU) No 462/2013 of the European Parliament and of the Council of 21 May
2013 amending Regulation (EC) No 1060/2009 on credit rating agencies.
The EU Regulation on credit rating agencies has been in force since December 2010. In
November 2011, the Commission put forward proposals to reinforce the regulatory
framework on credit rating agencies. The new rules came into force on 20 June 2013
(Regulation (EU) No 462/2013 of the European Parliament and of the Council of 21 May
2013 amending Regulation (EC) No 1060/2009 on credit rating agencies).

The Regulation is
intended to reduce conflicts of interest and reliance on credit ratings. Moreover, it enhances
transparency and tends to improve the quality of credit ratings. Credit rating agencies are
supervised by ESMA.