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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

SECTION 2 Ownership structure

Article 8 Owners and parent undertaking of a credit rating agency

  1. (1)

    A credit rating agency shall provide the FCA with:

    1. (a)

      a list of each person who directly or indirectly holds 5 % or more of the credit rating agency’s capital or of voting rights or whose holding makes it possible to exercise a significant influence over the management of the credit rating agency;

    2. (b)

      the information set out in points 1 and 2 of Annex III in relation to each such person.

  2. (2)

    A credit rating agency shall also provide the following information to the FCA:

    1. (a)

      a list of any undertakings in which a person referred to in paragraph 1 holds 5 % or more of the capital or voting rights or over whose management that person exercises a significant influence;

    2. (b)

      an identification of their business activity referred to in point 3 of Annex III.

  3. (3)

    Where a credit rating agency has a parent undertaking, it shall:

    1. (a)

      identify the country where the parent undertaking is established;

    2. (b)

      indicate whether the parent undertaking is authorised or registered and subject to supervision.

Article 9 Ownership chart

A credit rating agency shall provide the FCA with a chart showing the ownership links between any parent undertaking, subsidiaries and any other associated entities established in the UK and their branches. The undertakings shown in the chart shall be identified by their full name, legal status and address of the registered office and head office.