Securities and Exchange Board of India (Sebi)
The Securities and Exchange Board of India (Sebi), on Wednesday, directed credit rating agencies (CRAs) to strengthen the firewall between them and their non-rating affiliates.
CRAs will now be required to formulate a policy on separation with non-rating entities and document the same in their internal operational manuals. Further, the nature and extent of sharing of infrastructure, employees, and resources between the CRA and the non-rating entity will be required to be specified.
Also, Sebi will ensure the independence of its credit-rating process in view of any such arrangements and provide guidance on sharing of resources by avoiding conflict of
First Published: Sep 21 2022 | 9:40 PM IST