{
  "url": "https://openlegislation.uk/eu-regulation-2012-449/annex-VII/division-ISSUANCE/division-2",
  "json_url": "https://openlegislation.uk/eu-regulation-2012-449/annex-VII/division-ISSUANCE/division-2.json",
  "legislation": "eur/2012/449",
  "legislation_title": "Commission Delegated Regulation (EU) No 449/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on information for registration and certification of credit rating agencies (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2012-449",
  "path": "annex/VII/division/ISSUANCE/division/2",
  "kind": "division",
  "number": "2",
  "heading": "The information regarding the policies and procedures referred to in Article 17(1)(c) regarding the issuance of credit ratings shall include:",
  "text": "(a) the sequence of steps followed for the production of ratings; the process for reviewing the documentation of issuers or securities to be rated. This shall include any benchmark used to facilitate the review;\n(b) an assessment of the minimum information requirements to initiate and maintain a rating, including both public and non-public information;\n(c) the controls mechanisms for the issuance of credit ratings, including the involvement of the issuer/arranger/investor/servicer within this process;\n(d) the process for collation, analysis and assessment of the information used to determine a rating, including, where applicable, reliance on analysis by another credit rating agency or other third parties;\n(e) the role and responsibilities of rating analysts, as well as the process and procedures for their selection on specific securities;\n(f) the rating approval process, including the identification of the role and responsibilities of the persons approving the ratings as well as the process and procedures for their selection;\n(g) where a credit rating agency has established rating committees, the role and responsibilities of rating committee chairs, as well as the skills required and the process and procedures for their nomination; and\n(h) the minimum qualifications of the persons involved in the rating decision.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2012/449/annex/VII/division/ISSUANCE/division/2",
    "retrieved_at": "2026-11-01T14:49:25.461337+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}