Registering as a credit rating agency

Regulatory Updates | 10/10/18

When the UK leaves the EU, the FCA will become the UK regulator of credit rating agencies. To support a smooth transition to the new regime for CRAs in the UK, and minimise disruption to the users of credit ratings, the draft SI will include two registration regimes for firms: a conversion regime and a temporary registration regime which will offer temporary registration to CRAs that apply for registration with the FCA before exit day, provided that they are a UK legal entity and are part of the same group as a CRA with an existing ESMA registration.