ESMA shall ensure application of the Regulation and, in accordance with Article 16 of Regulation (EU) No 1095/2010, shall issue and update guidelines on cooperation with competent and sectoral authorities, including delegation procedures. In cooperation with EBA and EIOPA it shall issue guidelines on the endorsement regime by 7 June 2011. ESMA shall develop and submit to the Commission by 21 June 2014 draft regulatory technical standards on information for registration (Annex II), certification and systemic‑importance assessments (Article 5), disclosure presentation (Article 11(2) and Annex I), assessment of credit‑rating methodologies (Article 8(3)) and ratings‑data reporting; the Commission is delegated the power to adopt those RTS.

ESMA shall also develop RTS by 21 June 2014 on disclosures to ESMA under Article 11a(1) and on periodic fee reporting, and by 21 June 2015 shall report on the possibility, costs and benefits of mappings of ratings submitted under Article 11a(1), assessing misrepresentation risks and effects on prior RTS, consulting EBA and EIOPA on specified points. ESMA shall publish an annual report on application of the Regulation, including Annex I implementation and the endorsement mechanism, and shall annually report to the European Parliament, Council and Commission on supervisory measures and penalties, including fines and periodic penalty payments. ESMA shall cooperate with and consult EBA and EIOPA before issuing or updating the guidelines and RTS referred to above.