 |  | Level 3 |
|
 | |  | Karl-Burkhard CASPARI, Chief Executive Director of securities supervision at the German Financial Services Authority (BaFin)
|
|  | Isabelle CARDON |
|
| |  |
| | | On 7 December 2009, the EU Regulation 1060/09 on Credit Rating Agencies (CRAs) entered into effect. The Regulation has given CESR an important role in the future EU regulatory framework for CRAs. According to the Regulation, CESR is required to discharge important co-ordination and advisory functions alongside its traditional role of promoting convergence through Level 3 guidelines and recommendations.
A CESR Expert Group had been established in November 2008 to assist in preparing CESR for these new tasks relating to CRAs. As of 1 January 2010, this Expert Group has been transformed into the CESR Standing Committee on CRAs. In order to fulfill its objectives, the Standing Committee will:
•Promote convergence in the application by members of the Regulation, facilitate a coherent approach by the competent authorities and enhance legal certainty for market participants. The Standing Committee will prepare and publish common guidelines as required by the regulation.
•Deal with the implementation of the EU Regulation on CRAs. The Standing Committee will undertake the necessary work to enable both CESR and its members to discharge their functions spelled out in the Regulation.
•Coordinate with other international organisations and third country regulators that are performing activities in relation to CRAs. Among other organisations, the Standing Committee will coordinate with CEBS, CEIOPS and IOSCO.
A new consultative working group was formed to assist the Standing Committee (for a list of these individuals, please click on the button consultative working group in this page).
Any correspondence regarding the work of this Committee should be sent to the CESR Secretariat. |
| |
| | |
|
 | | Michael Munsch,CEO of Creditreform Rating AG, Alternate: Christian Hesse, department manager Creditreform Rating AG
Joachim von Cornberg,Head of Corporate Law at Union Investment
Nicolas d’Hautefeuille,Calyon’s rating advisory team
Benoît Malpas,Technical Manager Economics & Finance European Insurance and Reinsurance Federation
Jack Aschehoug,Director Financial Operations of L’OREAL
Alternate: Herman Bril, Senior Vice President Group Treasury AEGON N.V
Nieves Torres,Confederación Española de Cajas de Ahorros
Alternate: Rene Zuchold Credit risk controlling Landesbank
Bernd Walgenbach,Managing Director Pensionskasse für die Deutsche Wirtschaft, Alternate: Gerben Everts Compliance Officer APG Investments
David Hiscock,Senior Advisor Regulatory Policy ICMA
Brian Keegan,Managing Director JP Morgan, Alternate: Rupert Atkinson
Chris Golden,Chairman of the EFFAS Market Structure Group
Alternate: Oliver Everling, DVFA Deutsche Vereinigung für Finanzanalyse und Asset Management e.V
John Grout,Policy and Technical Director Association of Corporate Treasurers, Alternate: Philippe Messager, Treasurer of Veolia.com
José Poças Esteves,Executive Vice-President Companhia Portuguesa de Rating, SA., Alternate: Pedro Braga da Cruz, Member Executive Board Companhia Portuguesa de Rating, S.A
Milovan Milovic,Head of ECAI division, Lince Spa
Benoît Caron,Vice President global sales Coface Rating, Alternate: Bertrand Meunier Chairman's chief of staff Coface Rating
Mary Keogh,Managing Director, Regulatory Affairs DBRS
Sharon Raj,Head of Regulatory Affairs Fitch Ratings, Alternate: Susan Launi, Senior European Counsel Fitch Ratings
Nigel Phipps,Head of EMEA Regulatory Affairs Moody’s Investors Service, Alternate: Barbara Sullivan, EMEA regulatory affairs Moody’s Investors Service
Christopher Lake,Senior European Regulatory Counsel Standard & Poor’s, Alternate: Gerben de Noord, European Policy Advisor Standard & Poor's
|
| | |
|
|
|
