The European Securities and Markets Authority (ESMA) has published a Consultation Paper setting out the draft Regulatory Technical Standards (RTS) required for the implementation of the CRA3 Regulation (Regulation).

The draft RTS, which complements the existing regulatory framework for credit rating agencies (CRAs), cover:

• disclosure requirements on structured finance instruments (SFIs);
• the European Rating Platform (ERP); and
• the periodic reporting on fees charged by CRAs.

Read full press release.