# Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (Text with EEA relevance), Article 8c: Double credit rating of securitisation instruments

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

1. Where an issuer or a related third party intends to solicit a credit rating of a securitisation instrument , it shall appoint at least two credit rating agencies to provide credit ratings independently of each other.
2. The issuer or a related third party as referred to in paragraph 1 shall ensure that the appointed credit rating agencies comply with the following conditions:
(a) they do not belong to the same group of credit rating agencies;
(b) they are not a shareholder or a member of any of the other credit rating agencies;
(c) they do not have the right or the power to exercise voting rights in any of the other credit rating agencies;
(d) they do not have the right or the power to appoint or remove members of the administrative or supervisory board of any of the other credit rating agencies;
(e) none of the members of their administrative or supervisory boards are a member of the administrative or supervisory boards of any of the other credit rating agencies;
(f) they do not exercise, or have the power to exercise, control or a dominant influence over any of the other credit rating agencies.

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Source: https://www.legislation.gov.uk/eur/2009/1060/article/8c (the official version)
Page: https://openlegislation.uk/eu-regulation-2009-1060/article-8c
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.