Article 63Y Intra-group ratingsF1
A person (“P”) does not carry on an activity of the kind specified by article 63U by providing an ESG rating where P is a member of the same group as the person to whom the ESG rating is provided (“Q”), and—
(a)
P does not reasonably expect the ESG rating to be made available to another person outside that group, or
(b)
P reasonably expects that Q will only make the ESG rating available outside of that group as part of carrying on an activity mentioned in sub-paragraphs (a) to (d) of article 63V(1).
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)