Article 63X Unregulated credit ratingsF1

(1)

A person does not carry on an activity of the kind specified by article 63U by providing an ESG rating which is used to produce, or is incorporated in—

(a)

a credit rating,

(b)

a credit score, or

(c)

a credit scoring system or similar assessment related to obligations arising from a consumer, commercial or industrial relationship, and

which is excluded from the UK CRAR by Article 2(2) of that Regulation.

(2)

For the purposes of paragraph (1)—

(a)

“credit rating” and “credit score” have the meaning given in Article 3(1) of the UK CRAR;

(b)

an ESG rating is not provided to produce, or as incorporated in, any of the matters described at paragraph (1)(a) to (c) where the ESG rating is provided as a standalone product or service.

Annotations

Textual amendments

F1: Pt. 2 Ch. 15F inserted (16.12.2025 for specified purposes) by The Financial Services and Markets Act 2000 (Regulated Activities) (ESG Ratings) Order 2025 (S.I. 2025/1349), arts. 2, 6 (with arts. 8-22)