PART 1 General

Citation and commencement

1. These Regulations may be cited as the Credit Rating Agencies Regulations 2010 and shall come into force on 7th June 2010.

Interpretation

2. —(1) In these Regulations—

“ the Act ” means the Financial Services and Markets Act 2000 ;

^F1 ...

“ the EC Regulation ” means Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies ^M6[^F2 , as amended by Regulation (EU) No. 513/2011 of the European Parliament and of the Council of 11 May 2011 amending Regulation (EC) No. 1060/2009 on credit rating agencies ^F2] ;

^F3 ...

[^F4 “the FCA ” means the Financial Conduct Authority. ^F4]

“ overseas competent authority ” means an authority designated by a Member State other than the United Kingdom in accordance with Article 22(1) of the EC Regulation (competent authorities);

“ protected item ” has the same meaning as in section 413 of the Act (protected items).

(2) Expressions used in these Regulations which are listed in Article 3 of the EC Regulation (definitions) have the meaning given in that Article.

PART 2 [^F5 The Financial Conduct Authority ^F5]

Designation of competent authority

3. [^F6 The FCA ^F6] is the competent authority for the purposes of the EC Regulation.

Fees

^F7 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Disclosure of confidential information

5. Section 348(1) of the Act (restrictions on disclosure of confidential information by [^F8 FCA , PRA etc ^F8] ) does not prevent the [^F9 FCA ^F9] from disclosing confidential information where the disclosure is permitted by the EC Regulation.

Guidance

6. —(1) The [^F10 FCA ^F10] may give guidance consisting of such information and advice as it considers appropriate with respect to any matter relating to the functions of the [^F10 FCA ^F10] under the EC Regulation.

(2) The [^F10 FCA ^F10] may—

(a) publish its guidance;

(b) offer copies of its published guidance for sale at a reasonable price;

(c) if it gives guidance in response to a request made by any person, make a reasonable charge for that guidance.

Miscellaneous

7. The functions of the [^F11 FCA ^F11] under the EC Regulation are to be treated for the purposes of [^F12 Part 1 (general) and paragraphs 16 (status) and 33 (exemption from liability in damages) of Schedule 1ZA ^F12] to the Act as functions conferred on the [^F11 FCA ^F11] under the Act.

^F13 PART 3 Applications for certification and registration

Language for applications

^F13 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Approval decisions

^F13 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Refusal decisions

^F13 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F13 PART 4 Investigatory Powers

Application of this Part

^F13 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Interpretation of this Part

^F13 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Information and documents

^F13 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Reports by skilled persons

^F13 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Investigations

^F13 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Investigators: powers and evidence

^F13 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Information and documents: supplemental provisions

^F13 17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Entry of premises under warrant

^F13 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F13 PART 5 Supervisory measures

Appropriate measures

^F13 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Injunctions

^F13 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F13 PART 6 Penalties and offences

Financial penalties

^F13 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Statements of policy

^F13 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Publication of penalties

^F13 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Offences relating to investigatory powers

^F13 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Offence of misleading the Authority

^F13 25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Offences by bodies corporate etc

^F13 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Proceedings for offences

^F13 27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Unincorporated associations

^F13 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F13 PART 7 Appeals

Appeals

^F13 29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F13 PART 8 Notices

Application of Part 26 of the Act

^F13 30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 9 Capital Requirements Regulations 2006

Amendments to the Capital Requirements Regulations 2006

^F14 31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[^F15 PART 10 ESMA: investigatory powers

Records of telephone and data traffic: Article 23c(1)(e) of the EC Regulation

^F16 32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Inspections: Article 23d of the EC Regulation

^F16 33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Offences: Article 23d inspections

^F16 34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ^F15]