The Regulation (EC) No 1060/2009 aims to establish robust standards for credit rating agencies (CRAs) within the European Union, ensuring that their ratings are independent, transparent, and of high quality. It emphasises the need for CRAs to operate under stringent organisational and operational requirements, including effective governance structures that prevent conflicts of interest. The Regulation mandates that CRAs disclose their methodologies and the basis of their ratings while ensuring that rating analysts maintain independence and possess relevant expertise.

Furthermore, the Regulation sets forth a clear framework for the registration process, requiring CRAs to apply for certification to enhance investor confidence and market stability. It lays down provisions related to supervision, oversight by competent authorities, and detailed reporting obligations on credit ratings and compliance practices. The overall objective is to improve the reliability of credit ratings while protecting investors and maintaining the integrity of the European financial markets.