ESMA consults on supplementary guidance under the endorsement regime

On 27th March 2018, the European Securities and Markets Authority (ESMA) published a Consultation Paper (CP) with proposed supplementary guidance on the application of the endorsement regime. This consultation follows on from the updated Guidelines on endorsement (November 2017), and comes in response to requests from the industry. 

Next steps
The consultation will be open for a two-month period, with a deadline for submissions on 25 May 2018.  The CP proposes to add the supplementary guidance as an additional subsection of ESMA’s updated Guidelines on Endorsement which will apply to credit ratings issued after 1 January 2019 or reviewed after that date.