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Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (Text with EEA relevance) · European Union

For the purposes of paragraph 1(a), the following shall not be considered to be credit ratings: recommendations within the meaning of Article 1(3) of Commission Directive 2003/125/EC OJ L 339, 24.12.2003, p. 73. ; investment research as defined in Article 24(1) of Directive 2006/73/EC Commission Directive 2006/73/EC of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive (OJ L 241, 2.9.2006, p. 26). and other forms of general recommendation, such as ‘buy’, ‘sell’ or ‘hold’, relating to transactions in financial instruments or to financial obligations; or opinions about the value of a financial instrument or a financial obligation.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-27 · Text as adopted (Official Journal); later amendments are not incorporated in this text.