European Union:
European Commission Adopts Equivalence Decisions On Credit Rating Agency
02 May 2014
Shearman & Sterling LLP
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On 28 April 2014, the European Commission announced that it had
adopted five equivalence decisions which confirm that the rules in
Argentina, Brazil, Hong Kong, Mexico and Singapore are equivalent
to the EU rules on credit rating agencies. Credit rating agencies
in those countries will be able to apply for EU certification so
that their ratings can be used by EU financial institutions for
regulatory purposes. The European Commission adopted equivalence
decisions for the US, Canada and Australia in October 2012.
The announcement and provisional text of the decisions is
available at: http://ec.europa.eu/internal_market/rating-agencies/index_en.htm.
The content of this article is intended to provide a general
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