Brussels, 22/11/2010 (Agence Europe) - As we went to press on Monday 22 November 2010, MEPs on the European Parliament's Economic and Monetary Affairs Committee were preparing to vote on a draft Regulation giving the new European Supervision of the Financial Markets Agency (ESMA) the power to monitor financial ratings agencies (see EUROPE 10253). EP rapporteur on the question, Jean-Paul Gauzès (EPP, France), told this newsletter that he wanted ESMA to have this power from the moment it is set up (in January 2011). He has lodged eight compromise amendments on access to information used to draw up a rating that is held by any ratings agencies, even those not paid by the issuer; clarification of the option of an EU agencies being responsible for a rating issued by a non-EU ratings agency; and penalties applied by ESMA. Issues like the rating of sovereign debt and bonus systems will be covered by an EP own initiative report by Wolf Klinz (ALDE, Germany), issues on which the Commission will be unveiling draft legislation in 2011. (M.B./transl.fl)