Regulatory Alerts2014-11-10
Capital Market Authority Credit Rating Agencies Regulations
The Capital Market Authority of Saudi Arabia has issued the Credit Rating Agencies Regulations to establish a mandatory authorization framework for domestic and foreign entities conducting rating activities within the Kingdom. The rules require authorized agencies to maintain fit-and-proper status, implement rigorous conflict-of-interest management systems, and apply transparent, validated rating methodologies. Additionally, the regulations prescribe detailed procedures for application, suspension, or cancellation of authorization while enforcing strict record-keeping, transparency reporting, and compliance with prescribed fee structures.
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