Regulation (EC) No 1060/2009 is a European Union regulation adopted in 2009 which establishes standards for credit rating agencies in the European Union.
This regulation aims to enhance the transparency, impartiality, quality and accountability of credit rating agencies.
Regulation (EC) No 1060/2009 establishes a regulatory framework for the registration, monitoring and supervision of credit rating agencies operating in the European Union, as well as for the use of credit ratings in regulations of the European Union.
The regulation also establishes transparency requirements for credit rating agencies, in particular with regard to the disclosure of the methodologies, models and assumptions used to establish credit ratings.
Finally, the regulation provides for sanctions in case of violation of the established rules, such as fines and revocation of the registration of the credit rating agency.
The ultimate aim of the regulation is to strengthen investor confidence in credit ratings and to promote financial stability in the European Union.
