ALFI responds to ESMA consultation concerning fees charged to credit rating agencies

16 Mar 2021 | Statements and Position Papers  


On 15 March 2021, ALFI submitted a short response to the ESMA consultation on fees charged to credit rating agencies.

 

View the ALFI response.

 

The first comment related to transparency of fees levied by credit rating agencies. The fund industry welcomed clarity on the fee structure which should be disclosed in a prominent way. By ensuring a high level of transparency, asset managers are able to compare and choose attractive offers, which is in the end to the benefit of fund investors.

Moreover, ALFI underlined that it is crucial that ESMA and NCAs ensure a reasonable level of fees that is proportionate to the work undertaken by credit rating agencies.