Regulatory use - Americas
Canada
Legal Framework
In January 2012, the Canadian Securities Administrators adopted the regulatory regime for Credit Rating Organizations. On April 30th, 2012, The Canadian Securities Administrators announced the official designation as Designated Rating Organization (“DRO”) of the following companies:
List of Designated Rating Organizations
Source: http://www.securities-administrators.ca/aboutcsa.aspx?id=1048&terms=credit+rating
Relation with European Union law
On March 15th, ESMA announced that EU-registered CRAs may endorse credit ratings issued in Canada. In July 2012, ESMA and the Canadian Securities Administrators entered into a Memorandum of Understanding regarding the cooperation of competent authorities for the supervision of Credit Rating Agencies.
On April 18th, 2012, ESMA issued its technical advice to the European Commission and concluded that the Canadian legal and supervisory framework for CRAs is equivalent to the EU regulatory regime. .
On October 5th, 2012, the European commission adopted the decision on the recognition of the legal supervisory frameworks of Canada as equivalent to the requirements of the EU CRA Regulation.
Costa Rica
The Superinterndencia General de Valores ("SUGEVAL") is the supervisor of Calificadoras de Riesgo.
Registered Agencies
You may look up ratings in Costa Rica in the public register maintainde by SUGEVAL following thislink.
Ecuador
The Superintendencia de Companias is the supervisor of Calificadoras de Riesgo.
Registered Agencies
You may find public ratings in Ecuador by following this link and selecting "calificaciones realizadas"
Uruguay
The supervisor of Calificadoras de Riesgo is Banco Central de Uruguay ("BCU")
Registered Agencies
Public ratings on financial institutions and other issuers are available following the respective links.