(b) l'application du principe de la rotation aux agences de notation désignées par l'émetteur et donc valable pour les notations de crédit sollicitées, afin d'éviter que la même agence reste en fonction plus de trois ans, ou plus d'un an si elle a déjà noté plus de dix instruments de créance de l'émetteur.
The set of amendments on this po
int are designed to resolve conflicts of interest involving the ‘issuer pays’ model and
the shareholders of credit rating agencies. A number of principles are laid down: (a) the maximum limit on shareholdings, whereby no member or shareholder of a rating agency may hold a stake of more than 5% in another agency; (b) the rotation principle (when ratings are solicited) applying to rating agencies engaged by an issuer, the object of which is to ensure that a given agency will not remain in place for more
...[+++]than three years or more than one year if it rates more than ten debt instruments issued by the issuer.