ESMA has published its annual report summarising the key supervisory work and actions undertaken during 2015 and detailing its 2016 supervisory priorities for credit rating agencies (CRAs) and trade repositories (TRs). From its work in 2015, ESMA has identified the main risks in the sector and will focus its supervisory activities on:
- CRA governance and strategy and the quality of credit ratings;
- TR data quality and data access; and
- fees charged and information security for all supervised entities.