ESMA has published its "2013 CRA Supervisory and Policy Work Plan" with the aim of enhancing the transparency of its actions regarding credit rating agencies in the European Union.

The Work Plan sets out ESMA's objectives for the year which include (i) high-impact supervision, (ii) transparency of ESMA's actions and (iii) preventative supervision.

The Work Plan also sets out policy activities which include: the development of a rating platform, fees charged by CRAs to their clients and the new requirements for sovereign debt rating.