§ DORA · Article 59
DORA Article 59: Obligations, Deadlines & Penalties
At a glance
Article 59 of the DORA imposes 2 obligations on credit rating agency.
§ Obligations
All obligations under Article 59
Obligation 1
A credit rating agency shall have sound administrative and accounting procedures, internal control mechanisms, effective procedures for risk assessment, and effective control and safeguard arrangements for managing ICT systems in accordance with Regulation (EU) 2022/2554.
Regulation (EU) 2022/2554, Article 59, Article 59
- Obligated entity
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credit rating agency
- Sector scope
- credit rating agencies
- Action required
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have
- Deadline
-
—
- Penalty
-
—
Obligation 2
A credit rating agency shall implement or maintain decision-making procedures or organisational structures as required by point 4 of Section A of Annex I of Regulation (EC) No 1060/2009.
Regulation (EU) 2022/2554, Article 59, Article 59
- Obligated entity
-
credit rating agency
- Sector scope
- credit rating agencies
- Action required
-
implement
- Deadline
-
—
- Penalty
-
—
§ Frequently asked
Questions about Article 59
Who must comply with Article 59 of the DORA?
+
credit rating agency.
What does Article 59 of the DORA require?
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have implement