Version in force , Inserted +1,446 −0§
Amended by Regulation (EU) No 462/2013 32013R0462 on EUR-Lex (external, EUR-Lex)
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Found in the text, but not every source lists it — the text comparison and the amending act's instructions found this change; the EU's own amendment metadata does not list it. The source that does not name it is the EU's own amendment metadata. All are shown; none is overruled.
Explanation, written by a model and checked against the cited text
Article 6a is a wholly new provision setting out prohibitions on shareholders or members holding at least 5% of the capital or voting rights of one credit rating agency from simultaneously holding equivalent stakes, voting rights, board appointment powers, board membership, or control/dominant influence over another credit rating agency.
The new text also excludes diversified collective investment scheme holdings such as pension funds or life insurance from the capital-holding prohibition, subject to a significant-influence condition, and excludes investments among credit rating agencies belonging to the same group from the whole Article.
Cited: Art. 6a, v2 (external, EUR-Lex)
v1 is the previous version, v2 this one.
Text from EUR-Lex
Inserted in this version 02009R1060-20130620
Article 6a Conflicts of interest concerning investments in credit rating agencies 1. A shareholder or a member of a credit rating agency holding at least 5 % of either the capital or the voting rights in that credit rating agency or in a company which has the power to exercise control or a dominant influence over that credit rating agency, shall be prohibited from: (a) holding 5 % or more of the capital of any other credit rating agency; (b) having the right or the power to exercise 5 % or more of the voting rights in any other credit rating agency; (c) having the right or the power to appoint or remove members of the administrative or supervisory board of any other credit rating agency; (d) being a member of the administrative or supervisory board of any other credit rating agency; (e) exercising or having the power to exercise control or a dominant influence over any other credit rating agency. The prohibition referred to in point (a) of the first subparagraph does not apply to holdings in diversified collective investment schemes, including managed funds such as pension funds or life insurance, provided that the holdings in such schemes do not put the shareholder or member of a credit rating agency in a position to exercise significant influence on the business activities of those schemes. 2. This Article does not apply to investments in other credit rating agencies belonging to the same group of credit rating agencies.