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News 13 January 2014

Board of Appeal of the European Supervisory Authorities dismisses appeal made by a refused CRA-applicant against ESMA

On 10 January 2014, the Board of Appeal of the European Supervisory Authorities handed down its decision on an appeal by the appellant, Global Private Rating Company “Standard Rating” Ltd, against the refusal by the European Securities and Markets Authority (ESMA) to register it as a credit rating agency. This is the first appeal against a decision by ESMA refusing an applicant registration as a credit rating agency.