Regulatory Alerts2023-07-28
Regulatory Decision 2023-10 on the Code of Conduct for the Corporate Rating Activity
The Governor of the Bank of France issued Decision 2023-10 to enforce the Code of Conduct for the corporate rating activity, replacing the previous 2019 decision. This code mandates that Bank of France agents conducting credit ratings adhere to strict ethical standards, ensuring independence, preventing conflicts of interest, and maintaining the integrity and transparency of the FIBEN system. It establishes specific rules for analyst behavior, data confidentiality, and access to ratings to guarantee the quality of credit assessments for non-financial enterprises.
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