Regulatory Alerts2019-01-01
Decision No. 113 of 2019 of the Board of Directors of the Capital Market Authority
The Capital Market Authority issued Decision No. 113 of 2019 to establish specific regulatory controls for companies exclusively engaged in evaluating, classifying, and rating securities of medium and small enterprises. The decision exempts these specialized firms from the general licensing and shareholding rules applicable to broader securities rating companies under Decision No. 53 of 2018, while permitting international credit rating entities to act as shareholders. Additionally, it mandates that these companies secure professional liability insurance commensurate with their operational scale and requires their Managing Directors to complete accredited training from the Financial Services Institute or an Authority-approved body.
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