# The Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 2019, Regulation 18: Information gathering and investigations


(1) Part 11 of the Act (information gathering and investigations) applies in respect of a credit rating agency as it applies in respect of an authorised person under the Act, subject as follows.
(2) Section 165 (regulators’ power to require information: authorised persons etc.) applies as if—
(a) in subsection (4), after paragraph (b) there were inserted—
“, and
(c) information and documents reasonably required in connection with the exercise by the FCA of functions conferred on it by or under—
(i) the Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 2019, or
(ii) Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies.”;
(b) in subsection (7), after paragraph (e) there were inserted—
“(f) by the FCA, to impose requirements on—
(i) a rated entity (within the meaning of Article 3.1 of Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies);
(ii) a related third party (within the meaning of Article 3.1 of that Regulation);
(iii) a person connected with credit rating activities (within the meaning of Article 3.1 of that Regulation);
(iv) a person to whom a credit rating agency has outsourced operational functions (in accordance with Article 9 of that Regulation).”
(3) Section 166A (appointment of skilled person to collect and update information) applies as if, after subsection (1), there were inserted—
“(1A) This section applies if the FCA considers that a credit rating agency has contravened a requirement imposed by or under Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, to collect, and keep up to date, information of a description specified in that Regulation.”
(4) Section 168 (appointment of persons to carry out investigations in particular cases) applies as if, in subsection (2), after paragraph (c) there were inserted—
“(ca) a person has contravened a requirement imposed by or under Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies; or”.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111176696/regulation/18 (the official version)
Page: https://openlegislation.uk/draft-credit-rating-agencies-amendment-etc-eu-exit-regulations-2019/regulation-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.