ESMA and UAE SCA sign MoU on supervision of credit rating agencies

The European Securities and Markets Authority and the UAE Securities and Commodities Authority have published a Memorandum of Understanding (MoU) signed on 29 December 2025. The MoU establishes a framework for cooperation and information sharing in the supervision of credit rating agencies (CRAs) operating across both jurisdictions. While non binding in nature, it sets out principles for mutual assistance, including cooperation on registration and certification processes, ongoing supervision, enforcement actions, cross border on site inspections and the handling of emergency situations. It creates mechanisms for exchanging both solicited and unsolicited information, subject to confidentiality and data protection safeguards. It also outlines procedures for managing outsourced functions and maintaining professional secrecy. Both authorities commit to periodically reviewing the MoU and may amend or terminate it with appropriate notice.

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