# The Credit Rating Agencies (Civil Liability) Regulations 2013, Regulation 4: “Gross negligence”

Extent: E+W+S+N.I.

(1) In Article 35a, an infringement shall be considered to have been committed with gross negligence if the senior management of the credit rating agency were reckless as to whether the infringement occurred.
(2) For the purposes of this regulation, the senior management of a credit rating agency are reckless if they act without caring whether an infringement occurs.

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Source: https://www.legislation.gov.uk/uksi/2013/1637/regulation/4 (the official version)
Page: https://openlegislation.uk/credit-rating-agencies-civil-liability-regulations-2013/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.