EC adopts ESG rating Delegated Regulations on fees and fines for ESG rating providers

The European Commission (EC) has adopted two Delegated Regulations supplementing the Environmental, Social And Governance (ESG) Ratings Regulation (EU) 2024/3005 on the transparency and integrity of ESG rating activities. The first Delegated Regulation sets out regulatory technical standards (RTS) on the supervisory fees to be charged by the European Securities and Markets Authority (ESMA) to ESG rating providers. The second draft Delegated Regulation establishes the procedural framework for ESMA's imposition of fines and periodic penalty payments on ESG rating providers. Draft versions of the Regulations were published in January for feedback. The Council of the EU and the European Parliament will now scrutinise the Delegated Regulations, and if neither object, they will enter into force on the day following publication in the Official Journal of the European Union, applicable to all member states.

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