Canada and South Africa continue to meet requirements for endorsement

On 4th April 2018, the European Securities and Markets Authority (ESMA) issued an update stating that the legal and supervisory frameworks of Canada and South Africa will continue to meet the requirements for endorsement under CRA Regulation (CRAR) from June 2018.

In November 2017, ESMA published an updated methodological framework for the endorsement of credit ratings in its Guidelines on Endorsement. This new methodological framework incorporated the requirements introduced by CRA 3 that are due to enter into force for the purposes of endorsement from 1 June 2018.