CRA Regulation impact on the asset management industry

Article

How the CRA Regulation will impact the asset management industry

Executive Summary

  • What is the credit rating agencies (CRA) Regulation?
  • Why has it been introduced?
  • Implications for the asset management industry
  • Challenges for the customer, custodian and audit firm
  • Risk or opportunity for asset managers?

The new regulation applicable to the credit rating agencies (CRA Regulation) states that the EBA, EIOPA and ESMA “shall not refer to credit ratings in their guidelines, recommendations and draft technical standards where such references have the potential to trigger sole or mechanistic reliance on credit ratings by the competent authorities” (Art. 5b(1) 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).

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Performance magazine issue 17, May 2015

Performance is a triannual digest, dedicated to investment management professionals, which brings you the latest articles, news and market developments from Deloitte’s professionals and clients.

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