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.

Article 21 Inventory of conflicts of interest

  1. (1)

    A credit rating agency shall provide the FCA with an up-to-date inventory of existing and potential conflicts of interest relevant to it. Where a credit rating agency is part of a group of undertakings, it shall include in the inventory any conflicts of interest arising from other entities which belong to its group of undertakings.

  2. (2)

    The inventory of existing and potential conflicts of interest shall identify the following potential conflicts of interest:

    1. (a)

      any potential conflicts of interest with related third parties;

    2. (b)

      any potential conflicts of interest arising from the carrying out of ancillary services and the outsourced rating activities;

  3. (3)

    The inventory referred to in paragraph 1 shall explain how the potential conflicts of interest are to be eliminated or managed and disclosed.