Regulatory Alerts2020-07-01
Added · Updated
Credit Rating Companies Regulations 2016
The Securities and Exchange Commission of Pakistan establishes licensing requirements, shareholding limits, and operational restrictions for credit rating companies. The regulations mandate that no person may act as a credit rating company without a license, impose a maximum 33% shareholding limit for single shareholders and 40% for individuals, and require a joint venture with an internationally recognized institution. Additionally, the rules prohibit rating own instruments, mandate fit and proper criteria for directors, and define procedures for license renewal, refusal, and cancellation.
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