ESMA is consulting on its draft guidelines for endorsing distribution and use of ratings issued in third countries. The guidelines represent ESMA’s views on the amended EU Regulation (although the Regulation has not yet been officially published, ESMA wants to have the new guidelines in place by 7 June). The draft guidelines look at the relationship between equivalence and endorsement and the impact of decisions on equivalence on the conditions for endorsement. They also cover endorsement of the regime. ESMA wants comments by 31 March. (Source: ESMA consultation on CRA endorsement regime)