Regulatory Alerts2019-12-11
EAC Council Directive on Credit Rating Agencies
The East African Community Council of Ministers issued this directive to harmonize registration and operational standards for Credit Rating Agencies across Partner States. It requires registered agencies to maintain financial stability, independent governance, robust rating methodologies, and transparent disclosure practices while managing conflicts of interest and adopting the IOSCO Code of Conduct. The framework further mandates continuous compliance reporting, active monitoring of public debt securities, and grants Partner States one year to align national laws with these provisions.
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