In June 2010, the AFM was designated by the Minister of Finance as the competent authority in connection with the EU Regulation on Rating Agencies. In view of this designation, the AFM and DNB have included new provisions relating to rating agencies in their covenant on cooperation and coordination. In addition, the covenant now allows the supervisors to share information (i) without prior notice to the company which supplied the information, and (ii) regardless of whether the information was supplied to meet a statutory obligation. The amendments entered into force on 11 June 2011, with retroactive effect from 7 June 2011.
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Covenant between the AFM and DNB on supervision of rating agencies
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