CHAPTER II Transitional and final provisions

1. Overview

Summary	Regulation
Article 40 Transitional provision	Article 40 Transitional provision Credit rating agencies operating in the Community before 7 June 2010 (existing credit rating agencies), which intend to apply for registration under this Regulation, shall adopt all necessary measures to comply with its provisions by 7 September 2010. Credit rating agencies shall submit their application for registration no earlier than 7 June 2010. Existing credit rating agencies shall submit their application for registration by 7 September 2010 ▼M1 Existing credit rating agencies may continue issuing credit ratings which may be used for regulatory purposes by the financial institutions and other entities referred to in Article 4(1) unless registration is refused. Where registration is refused, Article 24(4) and (5) shall apply.
Article 40a Transitional measures related to ESMA
Article 41 Entry into force	Article 41 Entry into force This Regulation shall enter into force on the 20th day following its publication in the Official Journal of the European Union. It shall apply from its date of entry into force. However: — Article 4(1) shall apply from 7 December 2010 and — points (f), (g) and (h) of Article 4(3) shall apply from 7 June 2011.

Requirements
Source	Requirement

Standards
Source	Requirement